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 broke support and the bulls are now being tested. Assuming they can hold the 5200-5215 area and bounce that will be the indicator for the market moving forward. A failed bounce that breaks below 5200 is a bearish indication.

If they bounce strongly back over the 5330 area then we likely look to 5400

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ broke down but not as strongly as ES and is in a more bullish position. It broke 18600 and now 18400 is a big number for the NQ. If they breakdown directly or bounce and fail below 18400 that is a bad sign for the bulls.

However, a strong bounce back over 18850 has us looking to 19150.

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.