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 chopped above the pivot as it consolidates and is now trying to setup for a move lower. If the bears can break down below 5510 it should spark some selling and push the market down towards the 5470-50 area pretty quickly.

If the bulls can bounce back above 5560 then we likely have new ATHs incoming.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ a downside 1,2 setup and is now trying to build out wave 3. It needs to break below 19900 to start a selling event that would take it down to the 19700 area. Assuming they could follow through we would look for a bounce and then continuation to the downside from the bears.

Any bounces back over 19880 likely lead us back towards ATHs

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.