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 sold off strongly as the FED catalyst took shape and broke through key supports. Now the key will be was this a flash crash buy the dip or something bigger. Right now the bulls have support in the 5650-5750 area and should they break back over 5980 we can see the start to a B wave or even a rally back to the highs.

However if they fail and break down we could see another selloff to the 5750-5650 area.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ sold off as well but isn’t as bad as it looks. The market has support directly under it and a move back over 21500 would signify a break back up in a B wave or even a rally to the highs.

However, if they break below yesterday’s low we could see 21000 in a hurry.

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.