$SPX - The current rally may hold a potential 5-wave impulse up

TRIGGER TRADES
01-22

$.SPX(.SPX)$ should be close to completing the 2nd wave correction before beginning the powerful 3rd wave decline.

The current rally may hold a potential 5-wave impulse up if we decline immediately, but a quick new high to 6030-6050 would turn the rally into a bearish 7-wave price swing.

There is a Daily FVG at 5931-5872 that could act as support, but a Daily close below 5872 would strongly favor the 3rd wave decline beginning.

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

With price crossing the [W2]/[W4] trendline, that activatesthe 2/4 trendline model favoring that the impulse from the2022 low is complete - thus the [W5] of Wave 5 rally.

Therefore, the 6099.97 peak now marks the top of the 15-year rally to now enter the multi-year bear market with40-60%downside targeting 3400-2700,

Price is expected to see all of its rallies get viciouslysold over the next 1-3 years until those targets arereached.

However, a cross above 6099.97 would invalidate suchand bring uncertainty as the 2/4 trendline model stronglyfavors that not being crossed.

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.

Comments

  • KSR
    01-22 08:31
    KSR
    👍
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