SP500 Technical Analysis 9-5-24 (Elliott Wave Theory)

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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 continued lower into key support at around the 5510 ES level. If they are able to push through that level we would look to the 5450 area pretty quickly which is the .382 retrace off of the recent highs. From there we should see a small bounce before moving into our 5400-5350 area.

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 moved lower in it's C wave and is now headed for our 18700-400 target area. From there we will see if they are able to hold support and what kind of bounce we get. If it's corrective we will look lower, if impulsive we look back to ATHs.

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.

SP500 technical analysis and NASDAQ analysis using Elliott Wave Theory is the most accurate way to define targets for the market. Check us out on Instagram and our website linked above.

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