$S&P 500(.SPX)$ 

πŸ”₯πŸ“ˆπŸš€ πŸ“ˆπŸš€ SPX Surf’s Up: Ready to Ride the Wave to $5700? πŸŒŠπŸ“ˆ πŸš€πŸ“ˆπŸ”₯

Kia ora Tiger traders!

This week's action in the $SPX could be nothing short of a firecracker πŸŽ†πŸŽ‡ show leading into 🍎 $Apple(AAPL)$'s much-anticipated event❗️Buckle up because my chart analysis is pointing towards a thrilling ride  to $5700 by  the 6th or 9th of September❣️ Let’s dive into the waves 🌊 and the data points πŸ“Š that are key to this bullish scenario.

The Technical Picture: Waves & Resistance πŸ”

- Wave 1: We’re looking at a potential bounce off support around $5600 - $5620. If the SPX can 'wave' goodbye to resistance, we’re in for an exciting surge!

- Wave 2: Expect a minor pullback~consider it a pit stop on our way to higher highs. 🌟

- Waves 3, 4, & 5: This is where the magic happens, folks! If we can defend those key levels, my chart is showing a clear path to $5700 ✨⭐️🌟🏁

πŸ’‘ Fun Fact: 

Did you know that the SPX's previous all-time high is just a stepping stone in this 5-wave Elliott pattern? History shows that strong bounces off support levels often lead to new record highs.

πŸ“… Crucial Data Points to Watch:

This week’s economic data could be the nitro boost we need:

- Tuesday: Watch for the S&P Manufacturing PMI and ISM Manufacturing PMI πŸ“ˆ~a strong showing could help push SPX above resistance and boost market momentum.

- Wednesday: JOLTs Job Openings πŸ’Ό~labour market strength could solidify the bullish trend.

- Thursday: ADP Employment and Jobless Claims numbers πŸ§‘β€πŸ’»~these could be the final puzzle pieces leading up to Friday’s main event.

- Friday : Nonfarm Payrolls (NFP) 🚜    ~    A strong πŸ’ͺ report could light the fuse πŸ’£ on this explosive chart setup! πŸ”₯πŸ’£πŸ”₯

πŸ’¬ Market Sentiment: Bullish or Bearish?

We’ve seen some choppy consolidation lately, but if the SPX holds the line....

at $5600 - $5620, the bulls πŸ‚πŸ‚πŸ‚πŸ‚ WILL charge through. The big question is, will the  market defend these levels or are we in for a  rougher ride?

πŸ“Š Analyst Corner: What the Experts Are Saying

Top analysts are mixed, with some eyeing the potential for a breakout, while others remain cautious due to the heavy data week. However, a consensus is emerging that if we see strong employment data, the SPX could indeed reach $5700.

Hey Tiger Traders, how are you positioning your portfolios this week? Are you betting on the bulls to break resistance, or do you see storm clouds ahead? 🌩️

@TigerGPT what’s your take on this 5-wave pattern? Do you think we’re in for a smooth ride to $5700, or should we brace for turbulence? πŸŒͺ️

πŸš€ The Big Picture: The Stage Is Set

As we gear up for the Apple event, the market could be setting the stage for a historic run~stay tuned, this could be one for the books! Let’s ride this wave together! 🌊

Happy trading ahead. Cheers, BC πŸ€

@Tiger_comments @TigerStars @TigerPicks @Daily_Discussion @TigerOptions @TigerPM @TigerWire 

# Take Profit as S&P Hits 5800 or Hold Till 6000?

Modify on 2024-09-03 16:49

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.

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  • TigerGPT
    Β·09-03
    TOP

    Based on the latest information, here are the key data points for the S&P 500 (SPX) index:

    Stock price: $5648.4  

    Yesterday's closing price: $5591.96  

    Open price: $5612.74  

    High price: $5651.37  

    Low price: $5581.79  

    Trading volume: 2.77 billion shares  

    Volume ratio: 1.29  

    Quote change: +1.01%  

    52-week high: $5669.67  

    52-week low: $4103.78  

    Total market capitalization: $0.00  

    Please note that the data is as of the latest available information.

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    • TigerGPTReplying toBarcode:Β 

      Based on the available data, there is no specific target price forecast for the S&P 500 (SPX) index that indicates it will reach $5700 by the 6th of September. It's important to note that target price forecasts are subjective and can vary among analysts. To get a better understanding of the market sentiment and expert opinions, it is advisable to refer to the analysis provided by financial institutions and market research firms. Keep an eye on the latest developments and consult with your financial advisor for personalized investment advice.

      09-03
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    • Barcode:Β 
      Thanks TigerGPT, will $S&P 500(.SPX)$ reach $5700 by the 6th of September?
      09-03
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  • Kiwi Tigress
    Β·09-03
    TOP

    Let's GO! πŸ”₯πŸ”₯πŸ”₯

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    • Barcode:Β 
      Let’s GO, GO, GO KT! Ride the 🌊 Cheers, BC πŸ€
      09-03
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  • Hen Solo
    Β·09-03

    Great article, would you like to share it?

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    • Barcode:Β 
      Cheers for the shares HS! πŸ€
      09-03
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  • Great article, would you like to share it?

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    • Barcode:Β 
      Cheers for the shares Q! πŸ€
      09-03
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