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 continued it’s assault on gravity. No pullbacks to be seen and until this market can break even a basic support level the bulls are firmly in charge. The next target higher is 6758 then 6800. This market is stretched. It’s due for a pullback but until we see a reason for this market to reverse the bulls are in FULL control.

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 also break out to new highs. It continues to stretch as well and we have numerous signs of weakness. When a market faces weakness but keeps slamming higher it’s usually a sign of big risk but until the bears can break the low from FED day last week the bulls are in full control with the next targets being 25141 25268

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.