SPX reversed strongly to the downside to the 5240-5211 target zone

TRIGGER TRADES
05-31

As expected, $S&P 500(.SPX)$ reversed strongly to the downside to the 5240-5211 target zone.

SPX terminated, or is about to terminate, a bearish 3rd or bullish higher degree fourth both suggesting a rally to 5250-5270.

If it remains below 5270, it should produce a 5th wave decline invalidating the bullish fourth (lean).

However, a break above 5270 would favor the bullish variation.

$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $E-mini S&P 500 - main 2406(ESmain)$ $E-mini Nasdaq 100 - main 2406(NQmain)$

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We CRUSHED this decline as we expected a reversal targeting 5240-5211 from Tuesday's highs, which were reached today ✅

We also expected price to sell off from yesterday's close and then again intraday 📉

All for 100+ points 🔥

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https://x.com/TriggerTrades/status/1796331107782144491

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  • CharlesBaker
    ·05-31
    Great job on predicting the reversal to the downside.
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