SPX final rally to ultimately push towards 6200-6320
$.SPX(.SPX)$ should have terminated the 2nd wave to kickstart the 3rd under the final Wave C of [W5] of the Wave 5 rally.
A break above 5920 would favor this, opening the door to 6080-6130 for the explosive 3rd wave move.
Overall, I'm looking higher against 5829, expecting this final rally to ultimately push towards 6200-6320.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2503(ESmain)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$ $E-mini Nasdaq 100 - main 2503(NQmain)$
Image
SPX confirmed a bullish WXY model for Wave B and shouldbe progressing in the final Wave C of [W5] of Wave 5targeting a new high above 6100 with upside to 6200-6320
That is expected to complete the 15-year rally beforeentering the multi-year bear market with 40-60%downside.
However, a cross below the [W2]/[W4] trendlinecurrently at 5795, would invalidate such thus favoring thetop is already in.
Image
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.
