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 traded sideways for another day as we wait for it to break out of it’s range. Price action has us leaning to one of the two paths lower to either the 4920 area or if they can’t hold there the 4850 area.

However, if they can hold Monday’s low we would look for another push to the 5017-5100 area to complete the move up.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ pushed down and tested Monday’s low and held. We are still looking for the NQ to breakdown in a C wave towards the 17000-17100 area. This becomes very likely if they can break Monday’s low.

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.