The bearish $S&P 500(.SPX)$ setup is now taking shape. The ABC-up within the final 5th wave is confirmed, and the daily iFVG has triggered. The weekly signal could be next.
My read: the ending diagonal is complete, and the all-time high may hold as the market turns lower.
🎯 First downside target: 7,600 — where the B-wave low aligns with the 2/4 channel.
The key now is whether the weekly signal confirms the daily bearish setup.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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