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 after consolidating for a while just under the ATHs the market has a decision to make. Break through and squeeze to 6400 or pullback. The key levels will be last weeks high and 5900. They have changed slightly due to the contract roll on ES but the overall context remains the same. Stay over 5900 and the bulls are in control. Break down below it and the structure will tell the story.

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 it has also been consolidating just under the highs and is in the same boat as ES. Breakout or fail and fall in a bigger pullback. For now as long as we are above 21700 the bulls are in control and we look to 23500+. However, if we see a breakdown below 21700 we can see a bigger pullback and the structure will tell the story.

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.