Although ATHs were made, the SPX structure remains corrective

TRIGGER TRADES
05-17

Although ATHs were made, the $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2406(ESmain)$ structure remains corrective, which increases odds of [W4] being a flat correction.

If so, SPX should have topped today, or will do so at 5350, to then decline to the 5000 range - maybe lower.

However, there is potential for the next dip to be bought at 5240-5211 if we see a 4th wave pullback. That is unlikely before 5211.

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SPX formed a triangle, which made us favor further upside to 5260-5280 📈

Price then blasted 70+ points higher with minimal pullbacks to that upside target zone 🚀

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https://twitter.com/TriggerTrades/status/1791250559774740664

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