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 pulled back slowly toward our wave 4 target and we technically have enough in place to call it good. Ideally though we would continue to drop into the 5330 area to complete wave 4 then shoot higher towards the 5400-5450 area.

Below 5317 and the bears can start to apply pressure to the downside.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also pulled back but less than ES which would make us want lower a little more in order to satisfy a more normal wave 4 on NQ. 18980 would be the first area with 18890 being ideal.

However, a break back below 18817 would give the bears a chance to press lower below 17900

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.