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 pushed into our 5350 area and pulled back. While the pullback does look like 5 waves, it’s a micro count and they are unreliable. At this point it’s fairly simple. Above 5260 SPX and the bulls are in control. Below and it’s a warning to the bulls.

If they stay above 5260 SPX 5400 would be the next target higher.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ pushed up towards it’s targets as well and we are looking for a continuation of the pullback. As long as they are above 18416 the bulls are in control. Below that and it’s a warning to the bulls.

If below 18416 holds we look to 18850-19100 next.

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.