SPX at 7000: Last Leg of the Rally in Sight
$S&P 500(.SPX)$ reached the 7000 target projected from the 6800 Weekly FVG ✅
One more push to 7010–7020 is favored to complete w5 of W5 of Wave 5.
This may mark the final advance of the rally from April, so cautious on the long side once reached.
⚠️ Daily close below 6933 or a break of the 6895 (W5 50%) warns the macro top is finalized.
Weekly outlook playing out.
SPX made a new all-time high, confirming W5 of Wave 5.
Further upside is favored toward 7000 - 7020 - 7050, with the newly formed Daily FVG acting as support.
A Daily close below the FVG (6933) would warn of a pullback toward the 50% retrace of W5.
With FOMC tomorrow, if that 50% retrace is crossed, there's risk for a higher-degree reversal.
$E-mini S&P 500 - main 2603(ESmain)$ w3->w4 🎯
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
-
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
-
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
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.
