SPX | ES Re-Sync Likely Before Wave 5 Completes
$S&P 500(.SPX)$ | Because $E-mini S&P 500 - main 2603(ESmain)$ has not yet crossed its ATH, price is likely to grind above that level to re-sync the two and complete Wave 5.
Once that alignment is achieved, the market appears positioned for a major reversal, with CPI next Tuesday likely acting as the catalyst for Wave 1 down.
The pivotal level remains SPX 6816. A daily close below would:
- Invert the Daily FVG
- Lose the 50-DMA
- Break the multi-month trendline
-> Triggering a sell signal toward 6720–6550.
$SPDR S&P 500 ETF Trust(SPY)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2603(NQmain)$ $Dow Jones(.DJI)$ $E-mini Dow Jones - main 2603(YMmain)$ $GraniteShares YieldBoost RIOT ETF(RTYY)$ $iShares Russell 2000 ETF(IWM)$
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