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 raced to the 5450 target out of the gate and now is setup for a little higher. If the can move back over 5445 then we would look to 5482 next. We are looking for a top in this area but until support breaks pressure is up.

Bears need to break 5421 then 5390 then 5330 to get the ball rolling to the downside. Until then the bulls can push.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ broke strongly to the upside extending wave 3 and moving it’s target higher toward the 19700-19800 area. We are looking for a top but we need to see evidence first with a break of support. Until then bulls are in control

Bears want to break down below yesterday’s low then 19250 then 18940. Until then pressure is up.

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.