Welcome to the captivating world of SP500 technical analysis, where we unlock the secrets of the market using Elliott Wave Theory. Join us on this journey as we delve into the latest insights and trends shaping today’s trading session.

SP500 Technical Analysis

In our SP500 technical analysis using Elliott Wave Theory the market continued the squeeze pushing into a strong resistance area. This area “should” produce at least a minor pullback but the higher the bulls push directly the tougher it gets on the bears. If we can see a pullback from the 4400 area or below we would be looking to the 4300-4225 area depending on what kind of wave we get.

However, if they push through 4433 then we could see the bulls push a little closer to 4450 before seeing a pullback which could setup the bulls if the pullback is corrective.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ continued it’s push higher and is testing a key area at 15300. If they push directly through that it becomes a bit of a problem for the bears as the wave 4 would be getting a bit too high overall. Assuming they can hold we should see a drop back toward the lows to get wave 5 started.

As we continue our journey through SP500 and NASDAQ technical analysis, guided by the powerful Elliott Wave Theory, our goal is to keep you well-informed about the market’s ever-evolving trends and the abundant opportunities it offers. Think of it as having a trusty compass in the vast sea of trading, helping you navigate through the dynamic landscape of today’s financial markets.

So, stay tuned for more updates and insights, and may your trading journey be as thrilling as the markets themselves.