$S&P 500(.SPX)$ closed above the Daily FVG at 5642-5582 , but with FOMC tomorrow there is great risk we close below that sending a bearish signal.A new high is allowed if we continue to close above 5582, but once we close below that zone should act as an entry point for shorts.If that occurs, ideally that leads to retracing 50%+ of the Apr 21 rally confirming this is a bear market rally setting up for the next major wave down. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$
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SPX finally completed the rally
$S&P 500(.SPX)$ finally completed the rally from the Apr 21 low after reversing from the 50-61.8% measured targets.Price should now be beginning the next major wave down or bullish 4th wave pullback - BOTH favoring downside to at least 5762-5691.Bulls inverted the Weekly FVG, so they have the edge, but the Bears remain in play as long as the 5968 high is not crossed (Bear invalidation) $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmai
A higher degree pullback looms for SPX
A higher degree pullback looms for $S&P 500(.SPX)$ , though bulls inverted the last stand resistance of the Weekly FVG increasing odds we will correct for a 4th wave.If so, I would expect the 5845-5691 range to act as support for the 4th to then rally for the 5th wave - ultimately leading to new highs before crashing. Only a Daily close below 5582 would return confidence in the bear case - as it’s more likely the crash phase will come following new highs. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$
A higher degree pullback looms for SPX
The SPX wave pattern looks CLEAR
The $S&P 500(.SPX)$ wave pattern looks CLEAR.Tomorrow is time to start shorting as SPX is about to terminate the ABC structure from the Apr 21 low, which would favor a HIGHER DEGREE CORRECTION following.An Daily/H1 close below 5845. would now be the first indication with the cross of the 50% retrace confirming such - currently 5750.Both bear and bull counts suggest that being hit, thus making it high probability.I’ll be looking at the lower Daily FVG at 5642-5582 as support for the 4th, or for the bears to bounce then break that down. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 1
The SPX wave pattern looks CLEAR
SPX reached the 5877-5950 measured targets bringing great risk
$S&P 500(.SPX)$ reached the 5877-5950 measured targets bringing great risk that a HIGHER DEGREE PULLBACK IS IMMINENT.The cross of the 50% retrace from the 05/07 low would favor such - currently 5743. If so, that should lead to the Daily FVG at 5642-5582.The bulls would see that terminate a 4th wave to rally for a 5th. The bears need to close below 5582 to increase confidence in the resumption of the bear market. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini N
SPX reached the 5877-5950 measured targets bringing great risk
SPX - A new all-time highs become more likely
$S&P 500(.SPX)$ Despite the bullishness, both the bull and bear scenarios point to a MAJOR PULLBACK looming, as the rally from the April 21 low nears completionMeasured targets of 5877-5950 should terminate the rally, with the cross of the 50% retracement from 05/07 being a warning sign it is complete - currently 5713. I am looking at price to return to the Daily FVG at 5642-5582 for both variations. The bull case sees this pullback as a 4th wave, setting up for a multi-week rally to complete the 5th.For bears, a Daily close below 5582 followed by a breach of the 50% retracement of the April 21 rally would confirm the bear market. However, if we break 5930, new all-time highs become more likely. $SPDR S&am
SPX - A new all-time highs become more likely
SPX Tests Key FVG Zone Ahead of FOMC
SPX Tests Key FVG Zone Ahead of FOMC
There is major risk for a major downside move at these levels for SPX
$S&P 500(.SPX)$ There is major risk for a major downside move at these levels after rejecting the 5685-5750 SPX resistance zone.Primarily watching the Daily FVG at 5642-5582 as a Daily close below 5582 would be a bearish signal and provide an entry zone for shorts.I'm open to more upside if we want to tap the 200DMA, though I would not expect a new high once we close below 5582. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$
There is major risk for a major downside move at these levels for SPX
SPX is on the verge of TOPPING OUT
$S&P 500(.SPX)$ is on the verge of TOPPING OUT, setting the stage for the next MASSIVE WAVE DOWN.In my latest analysis, I break down key levels, entry zones for shorts, confirmation points, and the targets you don't want to miss! 🔥 $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$ Long set up was sent to buy Friday's opening dip at m15 support to enter a 3/4/5 wave sequence 🌊 $E-mini S
SPX is on the verge of TOPPING OUT
SPX is SO CLOSE to TOPPING
$S&P 500(.SPX)$ 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. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$
SPX is SO CLOSE to TOPPING
SPX came just short of the 5685-5750 target zone
$S&P 500(.SPX)$ came just short of the 5685-5750 target zone.As long as price remains above 5545, it has upside potential to that zone - holding confluence of the 100% extension, Weekly FVG, and 200DMA.However, the loss of 5545 would suggest the bearish WXY or bullish 3rd wave terminated to begin pulling back to 5461-5401 support.Overall, the bearish WXY model is only confirmed below the 50% retracement of the Apr 21 rally - currently 5380. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$
SPX came just short of the 5685-5750 target zone
SPX declined to the 5461-5406 support zone then rallied exactly as expected
$S&P 500(.SPX)$ declined to the 5461-5406 support zone then rallied exactly as expected ✅Price should now be set up to continue pushing to the 5685-5750 upside targets to complete the bearish WXY model or bullish 3rd wave.Below the 50% retrace from Apr 21, currently 5342, would confirm the bearish WXY model. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$ ImageWe were expecting a pullback to the H4 FVG to then be bought.SPX
SPX declined to the 5461-5406 support zone then rallied exactly as expected
SPX continues to grind up
$S&P 500(.SPX)$ continues to grind up - not reacting to the first resistance zone - increasing odds this leg up has more room.We are at the top of the rising wedge, so be on watch for a pullback to the 5461-5406, but I would lean that gets bought to continue to the 5685-5750 area.However, below 5337 (50%) would confirm the bearish WXY model to favor setting up for the next wave down. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)
SPX continues to grind up
SPX is lacking a bearish indication on the lower time frames
$S&P 500(.SPX)$ is lacking a bearish indication on the lower time frames as of now - increasing odds we will trade to 5685-5750 with a break above today's 5553 high would favor such. However, if we fail to cross 5553, then trade below today's 5468 low - odds would shift to favoring price heading to the bearish WXY confirmation point (50% retrace of Apr 21 rally). $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$ ImageFor whom
SPX is lacking a bearish indication on the lower time frames
Is SPX on the verge of rolling over, or is there more upside ahead?
Is $S&P 500(.SPX)$ on the verge of rolling over, or is there more upside ahead?I break down the key indicator to confirm whether this rally is just a correction before the bear market resumes, or if it's setting the stage for new all-time highs. Don’t miss this crucial analysis! 🔥 $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$ For whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges of up to
Is SPX on the verge of rolling over, or is there more upside ahead?
SPX Upside Risk to 5570-5580: AAPL, NVDA, MSFT Lagging
$S&P 500(.SPX)$ is within the Daily + Weekly FVG that is expected to act as resistance. However, there is risk for a bit more upside to 5570-5580 as stocks like $Apple(AAPL)$ $NVIDIA(NVDA)$ $Microsoft(MSFT)$ have yet to cross their Monthly highs like SPX + $NASDAQ 100(NDX)$ .The secondary measured targets of 5685-5750 would increase in probability with a Daily close above 5572.Though if we trade below 5440, that is a strong warning the rally done w/ the loss of the 50% retrace of the 2nd leg up confirming - currently 5315. $SPDR S&P 5
SPX Upside Risk to 5570-5580: AAPL, NVDA, MSFT Lagging
SPX crossed the Monthly high, but strongly resembles a bearish WXY model
$S&P 500(.SPX)$ crossed the Monthly high, but strongly resembles a bearish WXY model.If we see more upside, be careful (!) as you may be buying into the top of the rally before the next major wave down as we are now at Weekly FVG resistance + 61.8% ext. at 5481-5572. All eyes should be on the 50% retracement of the rally from the Apr 20 low - currently 5293 - as a cross below that would confirm the bearish WXY model favoring new lows.Technically, there is upside potential to 5685-5750, however, a Weekly close above 5572 is needed to favor that to invert that FVG. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$
SPX crossed the Monthly high, but strongly resembles a bearish WXY model
SPX rally is CORRECTIVE
$S&P 500(.SPX)$ failed to close above 5386 avoiding a bullish inversion on the Daily and making it clear this rally is CORRECTIVE.This keeps the bearish triangle potential intact suggesting further coiling before the breakdown to 4600-4400 - favored with a Daily close below 5277.However, we could just modestly cross the 5485 high to then begin the next wave down - technically there is upside potential to 5685-5750, though that is optimistic as the low 5500s is stiff resistance.Overall, today's price action made it even more clear that the rally is corrective and it is just a matter of time before the next major leg lower begins. $SPDR S&P 500 ETF Trust(SPY)$
SPX rally is CORRECTIVE
PIVOTAL day for SPX tomorrow as it should determine the multi-week path
PIVOTAL day for $S&P 500(.SPX)$ tomorrow as it should determine the multi-week path.If we see a Daily close above 5386, odds would increase in crossing at least the 5485 high with upside potential to 5685-5750.However, if we close below 5386 and (!) fill the overnight gap, we may be forming a large bearish triangle to set up for the flush to 4600-4400. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$ ImageFor whom haven't open
PIVOTAL day for SPX tomorrow as it should determine the multi-week path
Will SPX continue selling off until we cross at least the 5115？
We have been anticipating $S&P 500(.SPX)$ to continue selling off until we cross at least the 5115, Apr. 10 low 🎯Price reached that target ✅, then I alerted I am switching to a long bias right before we took off 65 points off the lows🔥 $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$ ImageImageFor whom haven't open CBA can know more from below:🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0
Will SPX continue selling off until we cross at least the 5115？
SPX downside target was reached
As projected, the $S&P 500(.SPX)$ downside target was reached ✅Now there is strong risk for a bounce - potentially all the way back to the bearish Daily FVG at 5328-5386.Primarily just watching for a sideways triangle for that range to act as resistance (lean) - or for price to cross the 5485 high.Both scenarios would set up for the next major leg down targeting 4600-4400. $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$ $E-mini Nasdaq 100 - main 2506(NQmain)$ Imag
SPX downside target was reached
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