$NDX: One More Leg Lower Could Set Up a Bullish $SPX Reversal
$NASDAQ 100(NDX)$ is showing the cleaner bearish Elliott Wave count, with its Wave 4/Wave 5 structure still intact.
As long as price remains below today's high, I'm leaning toward one more move lower to complete Wave 5.
Here's the scenario I'm watching:
$NDX makes a lower low to finish its fifth wave, while $S&P 500(.SPX)$ holds a higher low. That would create a bullish SMT divergence between the two indices and could provide the catalyst for $SPX to rally toward the 7,725 trendline.
The ABC Model also nailed all three major $E-mini Nasdaq 100 - main 2612(NQmain)$ moves over the past two days.
Look at the reactions around the 90%–100% Fibonacci extensions. These are among the most common extension targets, and price has responded remarkably well.
This isn't random. Markets move in three-wave structures and frequently react around common Fibonacci levels. ABC is the rhythm of the market and one of its most recurring patterns.
That's why I'm all in on Elliott Wave, and why I built an improved framework: EW 2.0.
The ABC Model is at its core. It uses higher-timeframe alignment to filter stronger reversal setups from weaker ones, helping traders get on the right side of a move—or stay out of the wrong one.
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