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 got crushed to the downside before trying to rebound throughout the day. The move down is challenging the April lows and has us in a neutral stance on the market. If they break the April lows then we would look at the market as bearish with a much bigger correction to come.

If the bulls can hold they need to push back through 5493 then 5581. If they can do this 5830-50 is on the table.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also got crushed and poked below it’s April lows. Now that isn’t a full break but it is a potential warning. The market can still rally but a break of the April lows would put us in a bearish stance and looking for a much bigger correction to come.

The bulls will want to hold the April lows and push back over 19596 then 20124. If they do that then ATHs in the 22000 region are in play.

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.