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 continued on it’s downside path heading toward the 5040 area before bouncing and then retesting the lows at the close. If the bears are to continue they will look to break Wednesday’s low on their way to the 5000 area.

However, if the bulls push back through 5120 then we could see a bounce back to the 5200-5250 area in a bigger B wave.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the ran hard to the downside hitting it’s Target around the 17650 area and the bears will want to continue to the downside seeking out 17500-550. If they do and close the week below 17670 which is the 21 Weekly EMA that is a big warning to the bulls.

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.