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 over our 5581 key level which puts us in a fully bullish posture. We are looking for a pulllback before launching to ATHs and that pullback should target 5350-5400 but if they move directly through 5665 we would look for a more direct path.

If they give us a 5 wave pullback then we would look at a possible bearish outcome but only if we see 5 down.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ caught up a bit and is approaching it’s .764 retrace at 20132. Over that we would look to new ATHs. There is a gap fil and we are still looking for a pullback before launching higher and that pullback should look to 18600. If that happens as long as it’s 3 waves we stay bullish to 22000

If the pullback shifts into a 5 wave move we would look to be more bearish and look for a corrective bounce.

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.