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 tried to breakout and failed to do so retreating back to it’s support area in the 5290 range. As long as they can hold over 5270 they should be able to push higher to test the 5340-60 area. From here we would look for a potential topping area or potentially one more pullback.

However, if they break 5270 then we would look for them to continue selling and test the 5167 area next.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ reached it’s resistance at 18600 and sold back down closing near the lows. As long as it can hold the 18383 area we would expect it to push higher towards the 18800-19125 area in a final move higher.

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.