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 to the 5045 area we talked about yesterday and we now have the bears backs up against the wall. The bulls have pushed through resistance and now target the 5100 area next. If/when they get there we will look for a pullback to begin and how that takes shape will be important.

However, if the bears can hold the ATH and push below 5016 we can see a move down into the FED lows.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ rallied but not as strongly. They are still below their resistance areas and we will have to see if the bulls can push through. If they push over 18000 we would look at 18250 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.