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 traded sideways to down as we continue to look for a potential pullback. From this area a pullback would target around the 5350 area and should be in 3 waves if we are to remain bullish. If they push directly over 5565 then it can be a direct move to ATHs.

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 also chopped sideways to down and we are still looking for a pullback from this area. The pullback should be in 3 waves if we are to remain bullish overall. A direct move over 20350 would signal a direct breakout to ATHs

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.