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 shot higher just past our next target area at 5560 before pausing to end the day near the highs. Now the bulls can remain bullish toward the 5580 area as long as we are above 5525. Below 5525 and the bears can start to apply pressure in the short term.

If they break 5525 the bears want to break 5500 then 5400 to confirm a top.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ continued to push higher and is now threatening the 20400 area next as long as they remain over 20042. The bulls are in control until we break at least that level.

From there the bears would want to break below 19200 to ultimately confirm a top is in place.

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.