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 started to push higher and everyone thought the freight train to 5300 was on but the bears had other ideas holding resistance and pushing down into the close. Now after a digestion day we have pretty clear parameters. If the bulls can take out Wednesday’s high then we look to 5300-50

However, if the bears break below our support box at 5060-5050 then we could see rapid selling

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ tried to rally but was held down at the .618 retrace and the bears pushed down into the close. This gives us fairly clear parameters. Over Wednesday’s high and we likely look to the 18550-18700 area.

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.