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 moved higher into our A wave territory and then fell off in a big way giving our potential B wave completion. From here we would look for a strong move higher in a C wave towards 5600-5800. From there we would expect the bears to hold and the market to turn down sharply.

However, the bulls aren’t “totally dead” if they can get back over 5800 they may have a chance to push back to the highs but it’s not a high probability move.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ rocketed higher in the pre-market before getting crushed throughout the day giving us an AB setup. We now expect a strong C wave higher into the 19500-20500 area and a rejection in that zone from the bulls.

However, the bulls aren’t dead yet. While unlikely it’s possible that if they can get back over the 20500 level which would give them a chance at new highs.

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.