SPX remains range-bound, but is expected to reverse while below 5342
$S&P 500(.SPX)$ remains range-bound, but is expected to reverse while below 5342.
The current rally counts as a bearish WXY that should negate the potential bullish ABC down at the 5257 swing low.
Therefore, both scenarios should produce another leg down targeting 5240-5211.
I lean the more bearish variation.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2406(ESmain)$ $E-mini Nasdaq 100 - main 2406(NQmain)$ $Invesco QQQ(QQQ)$
Image
Image
https://x.com/TriggerTrades/status/1795606419309253000
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.
- BonnieHoyle·05-30Wah, your analysis of SPX so detailed.LikeReport