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 gapped down only to see the bulls take control and rally back to to the Monday high. Now if they can break back over 5253 the bulls are in control and we would look for them to accelerate towards the 5300 area ultimately looking for 5350-5400 overall.

However, if the bears break below our blue 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 a gap down and then rally but was weaker in general than the ES. It needs to complete the A leg then B and C on its way to 18500 as it’s ultimate target. If it can hold hold over the blue box and take out last weeks high we would assume they are on that path.

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.