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 bulls held support and shot higher in the C wave we have been looking for. We now expect them to continue to rally to the 5422-5493 area. If the bears can hold that area and push down we would look to see what kind of structure we get on the pullback. 3 wave is bullish and 5 wave is bearish. Over 5581 and the bulls are on their way to 5830-50

If the bears can break Thursday’s low it would likely setup for a bigger move down in a larger C wave.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ held support and rallied in the C wave we were looking for. The market is now looking for the 19175-19603 area to hold any bounce and move down. If the bulls push over 19603 then 20132 then we are likely on our way to 22000

If the bears can hold 19603 or below and move down in 5 waves breaking Thursday’s low it’s a very big warning of a major top being in place.

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.