SPX inverted the Weekly FVG
$S&P 500(.SPX)$ inverted the Weekly FVG, which was last stand resistance for the bears. Thus, it is now favored we will ultimately resolve higher to 6500 before beginning the bear market.
Currently, I am anticipating an ABC up from Apr lows w/ SPX being the 4th wave to rally to ATHs' for the 5th completing the A-Wave.
If so, we should pullback for Wave B to then produce the final leg up for Wave C targeting the 61.8% ext of the newly labeled Wave 3 & upper boundary of the multi-year trendline at 6500.
Only the cross below 5533, which is the 50% retrace of the 3rd would regain confidence that the top is already in.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$
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