SPX should be progressing in w1 of Wave C under [W4] to decline to 5000-4975 in the short-term

TRIGGER TRADES
05-03

It is strongly favored the B-Wave terminated at the 5123 high.

Therefore, $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ should be progressing in w1 of Wave C under [W4] to decline to 5000-4975 in the short-term.

There is downside potential for more, but I believe we still need to trace out w2 before the big w3 meltdown.

A break above 5096 would reduce confidence -potentially suggesting further rally above 5123 to then terminate the B-Wave.

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Wild day as we expected price to sell immediately at open targeting a lower low 📉

That produced a 50 point decline✅ but had to flip long after a bullish pattern arose

SPX then rallied for another 40 points to our 5070 target 🔥

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https://twitter.com/TriggerTrades/status/1786184297830871122

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Comments

  • chikki
    05-03
    chikki
    It's difficult to accurately predict short-term movements in the market.
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