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 quickly retreated and tested our support area in the 5060-5050 range then rallied strongly at the close off of support. As long as the bulls can hold that support we would be looking for an impulsive move to the upside towards 5300

However, if the bulls rally correctively and then fail below support it could lead to a very rapid selloff.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ sold directly into our support are and rallied off of it. Assuming the bulls can hold support and rally impulsively we would look to the 18550-18700 area next.

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.