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 sold strongly to start the week but the bulls stepped in midway through Tuesday to stem the tide and buy back about half of the losses. Now we look to the key levels to hold if the bears really want to push this down. As long as the bears can keep price below 6486 and break Tuesday’s low we could see a test of the August lows around 6240. If not we look higher for one more leg.

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 sold off to start the week but got bought by the bulls later in the day. They now look to follow through below Tuesday’s low and break down to test the August lows. If those break we could see NQ sell off another 1000pts pretty quickly.

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.