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 rallied higher into our 5160 target and sold down from there. Now we are looking for potentially one more quick high but overall looking for a test of 5050-60 area. Assuming the bulls can hold that area we would look for another rally into 5350.

However, if the bears can break 5050 we would look for a retest of 4940-4860.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ sold down a little and while they can make another push we would look for a test of the 17840-750 then assuming they can hold we would look to the 18500-600 area overall.

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.