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 sold down but appears to be building a corrective move down which favors the bulls. This would mean we could shoot higher from the 5600 area to 5750-5800 in a wave 5 or we could build a bigger ABC down first to the 5200-5300 areas and then shoot to ATHs. This is still in the preliminary stages of the move down so we will need to see how it fully takes shape.

However, any break of the April lows would likely end up with an end to the bull market.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also sold to the downside but did so in a corrective move for now. This favors the bulls in the short term whether that’s holding yesterday’s low and shooting higher in wave 5 of C or breaking down in a bigger ABC then shooting to new ATHs.

However, any break of the recent lows would likely end up with the end of the 100 year bull market.

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.