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 then pulled back and closed up near the highs from Monday and of the day. As of now the bulls are in control and will be as long as we stay over 5285-95. Assuming that happens we would look for 5330 area next then 5350 and 5400+ overall.

Below 5242 and the bears are in control and we likely see another low playing out that breaks 5200 and could be an indication of a top.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ dropped then rallied to close near the highs and a breakout type pattern. Assuming the bulls follow through we look to 18850 then 19150-200 next.

However, a break back below 18435 and we likely breakdown to 17900 next.

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.