$SPX experienced its largest decline from the recent high
$.SPX(.SPX)$ experienced its largest decline from the recent high after tracing out a 5-wave structure, ideally completing Wave C.
With CPI data releasing tomorrow, this could act as the catalyst to drive prices further down.
If we break below 5856, it would strongly suggest that Wave C is complete, marking the final [W5] of Wave 5.
However, a break above 6017 would mean SPX must form another 5-wave structure upwards, with 6080 as a likely target.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2412(ESmain)$ $NASDAQ 100(NDX)$ $E-mini Nasdaq 100 - main 2412(NQmain)$ $Invesco QQQ(QQQ)$
Image
Image
We were expecting price to sweep the overnight highs then trade down to the Daily FVG at ES 5990 🎯
ES did exactly that declining 40 points from the opening highs ✅
Trade Set Ups🟢🟡🔴
Image
Image
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.
