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 bounced in a corrective nature giving the market an overall bearish feel. We would look for an ABC structure towards the 5100-5200 area. From there we would look for the start of a much bigger move to the downside.

However, if the bulls can’t take out 5095 and break yesterday’s low we can slide quickly to the 4880-4800 region next.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ closed the week weak. This current bounce looks corrective and we would expect an ABC towards the 17700-18000 region. Once there we would look for a much larger move down.

However, if the bulls can’t push over 17551 and take out yesterday’s low then we look for a more direct move towards 16600

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.