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 took a nose dive to start the day then rocketed higher most of the day. This was our expected path as we were looking for the B wave down to 5020ish and then a C wave back to 5187-5250. As long as they stay below 5250 we look for new lows.

However, if the bulls can push back over 5250 we have to start talking about ATHs again.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also traded lower at the open then ripped it back up as expected. We were looking for our B wave down which we got and then a C wave back higher toward the 18000-18335 area. Assuming the stay below 18337 we would look for next week to be a move down to test/take out this weeks lows.

However, if the bulls can break back over 18335 then we look to new ATHs

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.