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 bulls continued higher and showed good follow through. We are now looking for a retrace back to the 5830 area and then we will see what we get from there. Right now the bulls are still in danger but have a chance to make at least a temporary bottom.

However, if the bears can break down in 5 waves the days of the bull may be over.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ saw the bulls follow through and is now setup to try to find a temporary bottom. If they do, we would look to 19750 area next and 20000 after that. If they are able to pull that off we would look at the pullback to tell us the story.

However, if the bears can break down in 5 waves the bull market may be done.

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.