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 continued to move higher and broke 5707 which lead us to our 5725 target where they came up just short. Now as long as the market is above 5690 we can continue to look higher towards 5743.

If the bears can break 5690 then 5668 we can look at 5630 as a major level of support. Get through that and we can talk about a potential downside attempt.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ is not participating in the rallies and this is a warning sign. As long as NQ is below 20800 they can push down and look to break through 20360 on their way to the 20000-19900 area next.

The bull will want to push back over 20800 on their way to 21145

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.