SPX further rally to 5310 is expected
Further rally to 5310 is expected, but $S&P 500(.SPX)$ would then be highly vulnerable to a sharp reversal once reached.
If price trades to 5310 then reverses, retracing 50% of Monday's rally, it would be strongly favored a powerful 3rd wave decline is beginning.
If so, that should lead to a new low sub:5191 with downside potential for much more.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2406(ESmain)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2406(NQmain)$
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On Monday, we expected a reversal from the highs targeting 5245 🎯
SPX RAPIDLY declined to that level, and then some 🔥
We then recognized a bullish pattern for the decline then switched to a long bias 📈
Price has rallied 50 points since 🚀
Use code 'EWC' for 40% off
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https://x.com/TriggerTrades/status/1798150170107936784
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