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 sold off breaking some upper support levels and stopped at our major 5630 level we’ve been talking about for weeks. From here we will need to see if the bulls have strength and want to rally or the bears can follow through. On any bounces if the bears can keep it below 5687 and at any time break 5630 we look to 5610 5585 5520 next.

If the bulls can hold 5630 and drive it back over 5687 then we look to likely new ATHs and 5743 next.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ sold off into our 20000-19900 target area and is now setup to potentially bounce to the 20300 level before continuing it’s move down into the 19800 and 19500 areas next. any direct break of 19900 would be considered an extension in iii of 3.

The bull will want to push back over 20500 if they are looking to new ATHs and 21143

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.