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 consolidated in between major catalysts and now looks to resume it’s uptrend to the new ATHs. As long as we hold support and the blue box in the 5123-5113 ES levels we should continue to look for the 5300-5420 area.

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 again weaker than the ES. It’s still above support and well within it’s diagonal structure but it is worth noting the weakness. Assuming the bulls can hold support we would look to new ATHs in the 18855 area.

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.