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 to push higher and is taking the direct path. This means we will likely be seeing 5600-5800 faster than I anticipated but this market has been moving at mach speed lately. I am looking for rejection off of that area and a 3 wave drop would indicate higher to new ATHs. A 5 wave drop would indicate the start of a much bigger move down and bigger correction.

However, any break of the April 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 also continued to rally in a strong way and is headed right for our box overhead in the 19500-20500 region. Assuming the follow through we would look for a rejection off of that area and if it’s 3 waves we would look to new ATHs. If it’s 5 waves, we look much lower in a bigger correction.

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.