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 held support and pushed higher aiming for the 5300 area next. Overall as long as they hold support we are looking for the 5360-5420 area as a potential top in the market.

However, if the bears break below our support box at 5123-5113 then we could see rapid selling

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ was able to hold support and pushed back higher although not in the same fashion as ES. So we will either see a catchup day from the NQ or ES will have to make a high while NQ holds back. As long as we are over support we target the 18750-850 area for a potential top.

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.