SPX price should find support at 5978-6007

TRIGGER TRADES
2024-12-28

It is favored that $.SPX(.SPX)$ completed the Wave B correction and is in the final Wave C of [W5] of Wave 5 position that should make a new high.

If so, price should find support at 5978-6007 after price completes the current 5-wave impulse to then attack the all time highs.

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2503(ESmain)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$ $E-mini Nasdaq 100 - main 2503(NQmain)$

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SPX falled to rally for the fractal 5th wave thus resolvingthe pattern as a 5-wave up from the August low for WaveA signaling the [WS] rally as incomplete.

SPX should be progressing in the final Wave C of [W5] ofWave 5 targeting a new high above 6100 with upside to6165-6325.

That is expected to compelte the 15-year rally beforeentering the multi-year bear market with 40-60%downside.

However, a cross below the [W2]/[W4] trendline,currently at 5730, would invalidate such thus favoring thetop is already in.

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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