SPX bulls have a strong opportunity to turn this decline into a bullish WXY model

TRIGGER TRADES
03-04

MAJOR PIVOT ALERT: $S&P 500(.SPX)$ bulls have a strong opportunity to turn this decline into a bullish WXY model, leading to a final high for [W5] of Wave 5.

A break above 5900 would confirm the WXY model favoring such. If so, today’s 5810 low should not be crossed for [W4] until a new high is made for [W5].

However, if price consolidates under 5900, it may be a bearish 3rd wave to decline to 5773-5675 signaling the beginning of the multi-year bear market (Invalid 5900+).

I would give the edge to the bulls here, as I prefer the count suggesting [W4] terminating today and there is still a bullish SMT w/ $NASDAQ 100(NDX)$ at the 2025 low.

$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $E-mini S&P 500 - main 2503(ESmain)$ $E-mini Nasdaq 100 - main 2503(NQmain)$

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Comments

  • JimmyHua
    03-04
    JimmyHua
    a balanced outlook, with both bullish and bearish risks
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