$SPX Near 3rd Wave Trigger as CPI Becomes Key Catalyst

TRIGGER TRADES
03-08 18:23

$S&P 500(.SPX)$ missed the 3rd wave confirmation by 1 point.

But the damage is done.

Odds strongly favor the 3rd wave is already in progress.

A cross below 6,710 confirms it.

If that occurs, 6,550 is coming.

New bearish Daily FVG at 6,773–6,811 should act as resistance on a bounce.

Daily close above 6,811 delays it.

CPI Wednesday. Catalyst incoming.

ALTERNATE:

Since SPX did not cross its weekly low at 6,710, the bullish SMT with $Dow Jones(.DJI)$ persists.

If price rallies without crossing 6,710 and closes above 6,811 on the Daily, the new Daily FVG inverts — meaning the 2nd wave is still progressing to target the higher Daily FVG at 6,883–6,915.

CPI then terminates the 2nd wave and charges the 3rd wave decline.

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