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 consolidated ahead of big tech earnings and we now wait to see if the earnings catalyst will launch us to 6400+ or drop us back down to test 6260. The overall trend is up and we still have room for another high so I would be looking for them to complete the mission to 6400 but now is not the time to be complacent. We have some cracks in the foundation and each time we see these the bottom is close to dropping out.

However, any break of the April lows would likely end up with an end to the bull market.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory we saw the NQ consolidate and setup for it’s push to 23530. They are just shy of that target that we have had and as long as they hold the upper support zone we would look for direct continuation. If they break 22800 then 22600 becomes major support for the NQ.

However, any break of the April lows would likely end up with the end of the 100 year bull market.

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.