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 chopped sideways and leaned on support but so far the bulls are holding. As long as we hold the 5050-5066 area we are looking for another move higher. This would be confirmed with a push through 5110 on the way to the 5156 area.

However, if the bears can break 5050 we would look for a retest of 4940-4860.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also held support but was unable to get anything positive going. Right now as long as they are over the 17751 area we would look for another push higher. This would be confirmed with a break over 18060 on the way to 18300

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.