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 moved higher on the CPI catalysts. Now we look for targets in the 6530-50 range for a more direct ending diagonal. Once complete we would expect the market to turn down sharply. If they do then we would target the 6240-6300 area for a potential landing spot. Then we will look at potential structure and paths.

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 break out to ATHs as expected. We noted many times that July has never printed the ATH for the year and we are approaching some ending diagonal targets in the 24000 range. If they fail in that zone we would look for the market to break down sharply and then look for context based on structure, count, volume and PA.

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.