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 gapped up then crapped as it fell almost 100 pts off of the high proving again that news doesn’t matter. Now we have a high volume micro 5 down and are building toward the next level of 5 down. From it’s pretty simple. Keep it under 5310 and press down in another 5 wave move through support we would shift our stance from short term bullish to neutral to bearish.

If they break above 5310 then the bulls can take this back to 5400

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also gapped up strongly before crapping the rest of the day in a high volume 5 wave move down. If they can keep it under 18791 and complete another 5 wave move then we have to start to shift our sentiment toward a bearish count.

If back over 18791 then the bulls look to rally to 19100

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.