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 attempted to break out and got rejectected back to support giving the bears a setup to take the market down. This has been the story of the last few weeks and the bears haven’t followed through. If they do we would want to see 4545 and then hold under 4565 to complete the next 5 waves down. If they do this they target around 4500.

However, if they If they fail to breakdown and push above Wednesday’s high then we likely test 4620

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ bounced in a b wave as expected and is looking to start a C wave down. If they can break the Monday low we would look to 15400 or so as a target for the move down.

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.