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 as it awaited big tech earnings and a jobs report that will likely tip us off as to it’s more immediate path. Assuming they can hold over 6020 and get to 6120 we have a bullish setup to 6250-6300. That should take a path of 6150 pullback 6200 pullback 6250-6300

However, a break of the 6069 then 6020 levels could lead to a flush to the 5700 area.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also chopped as tech earnings were on deck and it also has a bullish structure. As long as they hold over 21250 then we look to 23000+ overall with the next target being 22400.

However, if they break below 21250 then we could see the start of a much bigger pattern to the downside taking into the 19000s.

Stay Informed with Elliott Wave Theory

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.