SPX holds a bearish 5-wave structure of the fractal 1st + 3rd waves at 5040-5080

$S&P 500(.SPX)$ holds a bearish 5-wave structure near the 90-100% extensions of the fractal 1st + 3rd waves at 5040-5080.

It may not have enough juice to get there, but the 5-wave structure favors a pullback following.

That pullback is expected to begin [W4] or a bullish 2nd wave to continue the melt up.

Regardless, 5040-5080 should be seen as strong resistance and high risk for longs.

Image

Image

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2409(ESmain)$

From today's open, we were expecting a downside move to take ES to 5530 🎯

We expected the 5570 range to act as resistance to produce a lower low and price ended up declining 40 points to our target🔥

Image

Image

Image

Image

https://x.com/TriggerTrades/status/1803964633088139546

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.

Comments

moobug
06-24
moobug
Thanks.

Leave a comment

1

80

2

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":319549781762248,"tweetId":"319549781762248","gmtCreate":1719024378032,"gmtModify":1719228931224,"author":{"id":4160789479824912,"authorId":4160789479824912,"authorIdStr":"4160789479824912","name":"TRIGGER TRADES","avatar":"https://community-static.tradeup.com/news/2249ecc555aef3f3da258e02a1f32c0d","vip":8,"userType":8,"introduction":"Leader In Elliott Wave | Futures Trader","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 days","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":0,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.06.25","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"}}],"fanSize":227,"starInvestorFlag":false},"themes":[],"images":[{"img":"https://community-static.tradeup.com/news/ac8e86aa5c975f49144e943b5382b57d","width":"3834","height":"2058"},{"img":"https://community-static.tradeup.com/news/0330f7532e27909bb4db7f83ca737cc8","width":"3836","height":"2064"},{"img":"https://community-static.tradeup.com/news/33434950a29f94092c4fd14e2480ea6c","width":"3832","height":"2066"},{"img":"https://community-static.tradeup.com/news/48bd9d5d700cb9aacb543b84b57c843b","width":"3834","height":"2056"},{"img":"https://community-static.tradeup.com/news/ff442c0ab29e0cbe9b6da7d8e55214e2","width":"3830","height":"2058"},{"img":"https://community-static.tradeup.com/news/5a5247fc5f331ef8b24561cd05c19115","width":"3832","height":"2060"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/ac8e86aa5c975f49144e943b5382b57d","width":"3834","height":"2058"},{"img":"https://community-static.tradeup.com/news/0330f7532e27909bb4db7f83ca737cc8","width":"3836","height":"2064"},{"img":"https://community-static.tradeup.com/news/33434950a29f94092c4fd14e2480ea6c","width":"3832","height":"2066"}],"title":"SPX holds a bearish 5-wave structure of the fractal 1st + 3rd waves at 5040-5080","html":"<html><head></head><body><p> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a>  holds a bearish 5-wave structure near the 90-100% extensions of the fractal 1st + 3rd waves at 5040-5080.</p><p>It may not have enough juice to get there, but the 5-wave structure favors a pullback following.</p><p>That pullback is expected to begin [W4] or a bullish 2nd wave to continue the melt up.</p><p>Regardless, 5040-5080 should be seen as strong resistance and high risk for longs.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/ac8e86aa5c975f49144e943b5382b57d\" tg-width=\"3834\" tg-height=\"2058\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/0330f7532e27909bb4db7f83ca737cc8\" tg-width=\"3836\" tg-height=\"2064\"><span>Image</span></p><p> <a data-mention-id=\"SPY\" class=\"teditor-mention\" data-mention-name=\"SPDR S&amp;P 500 ETF Trust\" href=\"https://ttm.financial/S/SPY\">$SPDR S&amp;P 500 ETF Trust(SPY)$</a>  <a data-mention-id=\"ESmain\" class=\"teditor-mention\" data-mention-name=\"E-mini S&amp;P 500 - main 2409\" href=\"https://ttm.financial/FUT/ESmain\">$E-mini S&amp;P 500 - main 2409(ESmain)$</a> </p><p>From today's open, we were expecting a downside move to take ES to 5530 🎯</p><p>We expected the 5570 range to act as resistance to produce a lower low and price ended up declining 40 points to our target🔥</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/33434950a29f94092c4fd14e2480ea6c\" tg-width=\"3832\" tg-height=\"2066\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/48bd9d5d700cb9aacb543b84b57c843b\" tg-width=\"3834\" tg-height=\"2056\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/ff442c0ab29e0cbe9b6da7d8e55214e2\" tg-width=\"3830\" tg-height=\"2058\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/5a5247fc5f331ef8b24561cd05c19115\" tg-width=\"3832\" tg-height=\"2060\"><span>Image</span></p><p>https://x.com/TriggerTrades/status/1803964633088139546</p></body></html>","htmlText":"<html><head></head><body><p> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a>  holds a bearish 5-wave structure near the 90-100% extensions of the fractal 1st + 3rd waves at 5040-5080.</p><p>It may not have enough juice to get there, but the 5-wave structure favors a pullback following.</p><p>That pullback is expected to begin [W4] or a bullish 2nd wave to continue the melt up.</p><p>Regardless, 5040-5080 should be seen as strong resistance and high risk for longs.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/ac8e86aa5c975f49144e943b5382b57d\" tg-width=\"3834\" tg-height=\"2058\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/0330f7532e27909bb4db7f83ca737cc8\" tg-width=\"3836\" tg-height=\"2064\"><span>Image</span></p><p> <a data-mention-id=\"SPY\" class=\"teditor-mention\" data-mention-name=\"SPDR S&amp;P 500 ETF Trust\" href=\"https://ttm.financial/S/SPY\">$SPDR S&amp;P 500 ETF Trust(SPY)$</a>  <a data-mention-id=\"ESmain\" class=\"teditor-mention\" data-mention-name=\"E-mini S&amp;P 500 - main 2409\" href=\"https://ttm.financial/FUT/ESmain\">$E-mini S&amp;P 500 - main 2409(ESmain)$</a> </p><p>From today's open, we were expecting a downside move to take ES to 5530 🎯</p><p>We expected the 5570 range to act as resistance to produce a lower low and price ended up declining 40 points to our target🔥</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/33434950a29f94092c4fd14e2480ea6c\" tg-width=\"3832\" tg-height=\"2066\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/48bd9d5d700cb9aacb543b84b57c843b\" tg-width=\"3834\" tg-height=\"2056\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/ff442c0ab29e0cbe9b6da7d8e55214e2\" tg-width=\"3830\" tg-height=\"2058\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/5a5247fc5f331ef8b24561cd05c19115\" tg-width=\"3832\" tg-height=\"2060\"><span>Image</span></p><p>https://x.com/TriggerTrades/status/1803964633088139546</p></body></html>","text":"$S&P 500(.SPX)$ holds a bearish 5-wave structure near the 90-100% extensions of the fractal 1st + 3rd waves at 5040-5080. It may not have enough juice to get there, but the 5-wave structure favors a pullback following. That pullback is expected to begin [W4] or a bullish 2nd wave to continue the melt up. Regardless, 5040-5080 should be seen as strong resistance and high risk for longs. Image Image $SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2409(ESmain)$ From today's open, we were expecting a downside move to take ES to 5530 🎯 We expected the 5570 range to act as resistance to produce a lower low and price ended up declining 40 points to our target🔥 Image Image Image Image https://x.com/TriggerTrades/status/1803964633088139546","highlighted":1,"essential":1,"paper":2,"likeSize":80,"commentSize":1,"repostSize":2,"favoriteSize":0,"link":"https://ttm.financial/post/319549781762248","repostId":0,"isVote":1,"tweetType":1,"viewCount":349,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[".SPX","SPY","ESmain"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":true,"length":624,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":320329091010664,"gmtCreate":1719238012642,"gmtModify":1719238016036,"authorId":4144653065481002,"author":{"id":4144653065481002,"authorId":4144653065481002,"name":"moobug","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"currentWearingBadge":{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":319549781762248,"type":1,"supId":0,"prevId":0,"content":"Thanks.","text":"Thanks.","html":"Thanks.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/319549781762248"}