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 into our 5065 target area then closed red giving the bears a chance to make a move. If they can follow through we would wan to see them break 5000 followed by 4975 to give us an indication we are going to backtest the FED lows. If they do and we hold we would look higher to the 5125-5200 area next.

However, if the bulls can hold over 5000 we would look to 5100 in a more direct route.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ was able to push over the 1.382 and things are pretty clear now. As long as they hold over 17800 we can see a direct move to the 18300 area next.

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.