SPX is SO CLOSE to TOPPING

TRIGGER TRADES
05-04

$S&P 500(.SPX)$ is SO CLOSE to TOPPING before beginning the next major wave down as we are at major resistance holding confluence of 90-100% exts, 200DMA, and Weekly FVG.

If we see a Daily close below 5582, that is the first warning sign we are starting to pullback.

However, the cross of the 50% retracement from the Apr 21 low, currently 5400, is required to confirm this being a bear market rally.

If we do confirm the bearish WXY model, we should target 4600-4400 over the next few months.

A Weekly close above 5838, or a bullish 5-wave up, would invalidate this.

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$

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Comments

  • NeedMoneyPls
    05-07
    NeedMoneyPls
    all depends if Powell is hawkish or not
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