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 rages higher on the FED catalyst and now is approaching key levels. If they can hold 4811 we can still see a B wave pullback to the 4350-4450 area before a final push higher in wave C of 5 to new ATHs. This should target the 4950-5000 region.
However, if they If they blow through 4811 then a more direct move to ATHs in in the cards.
NASDAQ Technical Analysis
Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ rallied over the 16700 area and we now look to the 17000 to hold before a wave 2 pullback. If that is the case we would be looking for a pullback to the 15200-400 area then a breakout higher.
However, if they do push through 17000 directly then we likely look to the 17500-18000 area next before a wave 4 pullback.
Stay Informed with Elliott Wave Theory
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.
