$SPX is locked in the 2nd wave position
$.SPX(.SPX)$ is locked in the 2nd wave position, gearing up for a monstrous 3rd wave flush after completing its 15-year top.
Be on watch for a pullback to 5890-5845 piercing the CPI gap before terminating the 2nd wave in the 5975-6030 range.
If so, price should begin a powerful melt down for the 3rd, setting the stage for the multi-year bear market crash phase.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2503(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2503(NQmain)$
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With price crossing the [W2]/W4]trendline, that activatesthe 2/4 trendline model favoring that the impulse from the2022 low is complete - thus the [W5] of Wave 5 rally.
Therefore, the 6099.97 peak now marks the top of the 15-year rally to now enter the multi-year bear market with40-60% downside targeting 3400-2700
Price is expected to see all of its rallies get viciouslysold over the next 1-3 years until those targets arereache d.
However, a cross above 6099.97 would invalidate suchand bring uncertainty as the 2/4 trendline model stronglyfavors that not being crossed.
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- sexymint·01-17Share your short position pls.1Report