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 spiked higher then sold down in what looks like 5 waves. We have seen this before and the bears have been unable to break support. If they can muster strength and break through 5663 then 5630 we can see momentum to the downside increase.

For the bulls they want to hold 5630 the break back over 5707 for a run at 5725 then 5740

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ wasn’t able to make a new high and turned down in what looks like a micro 5 waves as well. They have a better downside setup on NQ and if they can break 20360 then 19900 they can really get the ball rolling to the downside.

The bull will want to push back over 20855 on their way back to 21154 then 21396

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.