SPX 5-Wave Rally Complete? Reversal to 5700-5636?

$.SPX(.SPX)$ traced out 5-waves up from the Wave B low to validate the potential that the Wave C of [W5] of Wave 5 rally is complete!

Although unconfirmed, I lean we start to reverse here to the downside leading to the Weekly FVG at 5700-5636 that aligns with the pivotal [W2]/[W4] trendline.

The loss of the 50% retracement of Wave C, currently 5855, would strongly favor such - with the loss of the 0/B trendline (5760) confirming.

We may bounce in that 5700-5636-5600 zone before we really breakdown, so keep that in mind.

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2412(ESmain)$

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No Rate Cut in Dec.? Market Ready for a Pullback?

U.S. stocks closed lower on Thursday after Federal Reserve Chairman Jerome Powell stated there is no need to rush rate cuts, hinting that a rate cut in December is unlikely. Initial jobless claims in the U.S. fell to their lowest level since May last week. Producer prices accelerated in October, indicating an upside risk to the Fed’s preferred inflation gauge. ---------- How do you expect the rate cut? Will rate cut estimates cause a big decline?

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Comments

Stoid
11-11
Stoid
Swt - so after peak to drop say a day or two how many days after that do you think that small rebound be Trigger?

All being equal we should see a big flux of volume out when the slide starts happening - nice mapping 👍🏿

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