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 bulls followed through on Friday and Monday and have no reached a key resistance area. We look to the 5740 (adjust for contract roll) next and then a pullback. That pullback will tell the story as a 5 wave pullback would be bearish.

However, if they get a 3 wave pullback, it’s likely back to the highs.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ much like the ES rallied hard both Friday and Monday and now is nearing key resistance. We are looking for the 20200 area next then 20730. Over that and we could see new ATHs

However, if the bears can hold under 20730 and give us a 5 wave decline we would look for a major breakdown.

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.