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 pushed higher as expected and took out the 4607 level on SPX. This makes the potential for this move up to be a wave 2 invalidated. The bullish ABC path is still the primary and it is close to completing the a wave of the move higher. From here we would expect a push towards 4670-90 ES then a turnover and selling.

However, if they If they turn down in 5 waves before breaking over the ATH we could see a bigger drop in the C wave.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ pushed higher but couldn’t really break over 16300. From here if they can’t break Friday’s high we would look for them to start selling into the 15400-600 area.

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.