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 traded sideways to lower into key support closing just above it. Now we have to see if the bears can follow through. I am looking for the 5460 ES area to hold a move down and then bounce in a b wave of circle B. From there we would look to 5400-5350 next.

If we see 5 down that would be a very bearish indication and a bigger correction.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also traded mostly sideways as it held key support for now. We are looking for the NQ to continue lower to the 18700-18400 area before bouncing. The structure of that bounce will tell us a lot about what to look for in the near future.

If the pullback shifts into a 5 wave move we would look to be more bearish and look for a corrective bounce.

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.