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 tried to sell early before the closing squeeze closed it at the highs of the day and set us up for another run to ATHs. If you have been listening I said that as long as we hold support we should be looking to 5350-5400 next and the market held support. Now as long as they hold Tuesday’s low we should look for these levels.

However, breaking below Tuesday’s low would be a warning sign fired by the bears and the bulls should take notice.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ sold down at the close but held the support number we gave yesterday at 18383. From there they rallied into the close and are setup to attempt a run at ATHs. They are a little weaker than ES but can catch up quickly. However there is a chance NQ has topped and ES makes another ATH.

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.