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 tried to breakout but failed and ended up lower and now is testing the lows looking for the final low we’ve been waiting for before finding a rally back to ATHs. We would look for the 5385 area to hold any drops and give a strong reversal. The bulls want to recapture 5533 then 5630 in order to signal new ATHs are on the way.

If the bears can break 5385 then 5270 that is an initial warning to the bulls.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ sold down making new lows and is looking for a bottom. We would expect a bounce in the 18600 region in order to give us what could just be a corrective bounce higher that fails to reach ATHs. The bulls would need over 20200 then 20420 to signal new ATHs incoming.

The bears can push lower and break the 18500 level which would be a warning to the bulls and a break of the April lows is a major warning.

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.