Now that the 5435 target was reached, $S&P 500(.SPX)$ is highly vulnerable to a pullback - potentially of a higher degree.
If SPX remains below the 5447 peak, it can escalate lower to fill the open gap at 5375 to see its bounces continuously get sold.
However, if price trades above 5447, it can extend to 5462-5510 with the former being more probable.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - Jun 2024(ES2406)$ $E-mini S&P 500 - main 2406(ESmain)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$ $E-mini Nasdaq 100 - main 2406(NQmain)$
From today's open, we expected a downside reversal targeting 5403 đŻ
SPX declined to that level EXACTLY for 35+ pts â
We then expected a rally back to 5425 from that low đ
SPX rose for another 30+ pts on the upside đĽ
https://x.com/TriggerTrades/status/1801412125232877859
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