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 grinded sideways to higher and appears to be entering wave 5 of C to the upside. This should target the 5187-5250 area and then we would look for the market to turn down in a C wave that would give us a 5 wave move off of the top. This will be a critical time in the market as if the bears are able to follow through it may be game over for the bulls for quite some time.

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 grinded sideways to higher and is looking to finish it’s wave 5 in the 18000-18335 range with 18000-18100 being natural targets. From there we would look for a 5 wave move down in order to start the C wave. If the bears can do this, it’s likely we have the top in place.

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.