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 dove down into our wave 5 target and reversed and now we have a key battle of the pivots going on. For the bulls they must hold 4243 ES/4200 SPX in order to keep the bullish count alive. If that breaks then it’s a horrible sign for the bulls. To get started the bulls must push back over the 4335 area in 5 waves then hold support and ultimately push back 4421.

However, the bears are looking to break down below the bull pivot listed above and hold the pivot of their own. IF they can we would be looking at a move down to the 4000 area next to complete wave 1 of C in the bigger picture.

NASDAQ Technical Analysis: Navigating Market Waters

Shifting our attention to the NASDAQ, it is showing relative weakness to the ES to the downside. This is because they haven’t even reached their 1.0 extension while ES has. The bulls are looking to hold over 14128 and break back over 15030 in 5 waves to give an indication we may have bottomed. Assuming we see that the bulls can push back to ATHs.

If however, the bears break 14128 the bulls are just about left for dead and the bears have complete control looking for a sub 13000 move next.

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.