$SPX ATHs? I’m Still Not Chasing This Rally
📈 $S&P 500(.SPX)$ is pushing into ATH territory, but I’m still not chasing this rally.
The C-wave extended further than expected, and price has now reached the last Daily FVG resistance zone. That puts the market at an important inflection point. ⚠️
🔍 The structure matters
We now have:
5-wave decline → 3-wave rally → Daily FVG resistance
That sequence is keeping me cautious.
The rebound has been strong, but from a wave-structure perspective, I still view it as corrective rather than the beginning of a fresh impulsive advance.
🎯 What I’m watching next
There are two main scenarios:
🟢 Shallow pullback
If buyers keep control and the pullback stays shallow, $SPX could print new highs first before the larger decline develops.
🔴 Sharp selloff
If we see an aggressive rejection from the current resistance zone, the setup becomes much more interesting.
That would raise the possibility of a bull trap forming near the highs.
I’m not trying to predict the exact top.
The key is how price reacts after reaching this resistance.
New highs + shallow pullback → watch the structure.
Sharp rejection → bull trap risk increases.
Either way, my broader view remains unchanged:
👉 This rally still looks corrective to me.
So while $SPX can absolutely push higher from here, I’m not chasing into resistance. Patience matters more than catching the final few points of a C-wave. 📊🧠
Markets are always moving - and sometimes, the best move is knowing what works for you.
With Treasury yields, oil prices and rate expectations keeping markets on edge this week, investors are once again thinking carefully about where to position next. There’s no one-size-fits-all choice in investing — and the same goes for Tiger Merch. This month’s hot picks are in, featuring the Tiger Toiletry Bag, Universal Travel Adapter, Tiger Umbrella and more favourites chosen by fellow Tigers.
Explore the Monthly Hot Picks in Tiger Coin Mall, now 12% OFF for a limited time.
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.
