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 extended higher later in the day making more likely that wave 3 is extending toward the 6100-6150 area. As long as they remain above 6045 we would look higher in the days ahead.

However if 6045 breaks we are likely looking at 5950-5850 in wave 4 down.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ was pushing higher and continues to outperform the ES as expected as it’s playing catchup. Now it looks like it’s exending in wave 3 and as long as it’s above 21150 we can see the 21550 area next.

However, if they can’t hold 21150 we look to 20800-900 next in wave 4 down.

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.