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 sold off of the key zone we spoke about in a big way and now has a decision to make. Can they push lower for a lower B wave and then bounce one more time up towards 5600-5800 or do they fail here and melt down. If they make a low under Thursday’s low we would look to see if it’s impulsive or corrective. If it’s corrective we would look for the market to hit around 5000 or so and scream higher to the 5600-5800 area.

However, if it’s impulsive the writing may be on the wall for the end of the bull market as we would look for one of C to conclude around 4700 then a big bounce before melting down to 3600-3300 as the start of a major correction.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ sold strongly off of the highs Wednesday and now we look to see if they can make another low before screaming higher or the meltdown begins. If the pullback is corrective then we would look for them to test the Monday lows before ripping up into the 19500-20500 region before facing another test.

However, if the move is impulsive it is likely game over for the bull market of the last 100 years.

Stay Informed with Elliott Wave Theory

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.