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 down again following our path lower to make a lower low in the 5111 area. While it’s possible we have bottomed on this drop as we are expecting a bounce we could still see a lower low into the 5100-5070 areas. If we do we would then look for a strong move back to the 5600-5800 area where we should see a rejection that will tell the story of the market.

However, any break of the recent lows would likely end up with an end to the bull market.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ sold off and broke the low from the 10th which was our expectation. We are now looking at a potential for one more low but if not we should see a strong bounce back to the 19500-20500 area. From there we should see rejection and that rejection will tell the story of this market.

However, any break of the recent lows would likely end up with the end of the 100 year bull market.

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.