Is SPX overall 4 month rally complete?
As long as $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ remains below 5287, but ideally 5261, it is strongly favored that the overall 4 month rally is COMPLETE.
Therefore, the bounces are expected to be sold for the next few weeks likely until price reaches the 4820 area.
If price exceeds 5287, the multi-month correction is delayed, however.
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SPX rallied past the conservative targets, but should be near the reversal point for the multi-month decline.
The multi-month decline is strongly favored if this leg up remains below 5287. The loss of 5215 is an early warning sign of that.
However, if 5287 is exceeded, that would delay the higher degree correction as the next pullback would likely be a 4th wave to be bought for a multi-week rally first.
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https://twitter.com/TriggerTrades/status/1772065976336470226
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