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 gave us a bounce off of Friday’s nosedive and now structure is everything. If the bounces come in 3 waves we should be looking lower with the bulls needing to hold the 5248 level or risk losing control of this market very quickly. If they can rally 5850 would be the target.

If we see the market hold below 5500 and move directly lower we would have a potential for 5 down.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also traded up off of the Friday nosedive but was weaker in it’s retrace. It only got to the .236 and is threatening to make another low for a solid 5 down. If they do the bulls should be worried and the next bounce will be important. Again, structure matters and all 3 wave bounces will be sold and 5 wave bounces push to 22000

The bulls need to hold the 18000 area or risk losing the market and having a top in place.

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.