$SPX made a new high invalidating the bearish 2nd/3rd wave set up

TRIGGER TRADES
01-24 07:21

$.SPX(.SPX)$ made a new high invalidating the bearish 2nd/3rd wave set up. Therefore, it is favored that we are in the [W5] of Wave 5 rally targeting 6250-6375.

Further rally is likely, but expect the new Daily FVG at 6076-6015 to act as support for a 2nd wave under [W5].

This is invalidated below 5935, but since $ES has yet to cross its own respective high (SPX 6150 | ES 6184), SPX should remain above that until $E-mini S&P 500 - main 2503(ESmain)$ crosses that peak.

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

ImageImage

ImageImage

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.

Comments

We need your insight to fill this gap
Leave a comment
22