W5 Blow-Off Top Nears 8,000, Then a 10–15% Correction?
The W5 blow-off rally has played out almost exactly as expected, with the $S&P 500(.SPX)$ reaching the 7,700 area. That leaves one final upside zone on the radar: 7,900–8,000. But the bigger question is what happens after that. The June highs are already showing bearish SMT divergence with $NASDAQ 100(NDX)$ , suggesting the rally may be losing momentum beneath the surface. As long as the Nasdaq remains below its all-time highs, the risk of a 10–15% correction remains on the table. The larger Elliott Wave structure also points to a potential W4 decline later this year, with the S&P 500 potentially retracing toward 7,200 or lower. For now, the trend remains bullish, but the risk/reward is changing qu
$SPX Stalls: Short-Term Pullback, Bigger Rally Still Alive
$S&P 500(.SPX)$ had a clear opportunity to extend the recent rally, but the breakout attempt failed to gain enough momentum. That makes the bearish B-wave rally the higher-probability short-term scenario for now. Under this interpretation, the next move could be a C-wave decline toward the August 6 swing low, completing the bullish ABC corrective structure. If that support holds and the correction finishes as expected, the broader uptrend would remain intact, setting the stage for another leg higher. From there, the next major objective would be 7,900, which could complete the larger W5 advance and mark the next significant upside target. There is still a bullish alternative. If $SPX manages to chop sideways into the CPI release and then break
My August 5 outlook continues to play out. $S&P 500(.SPX)$ reached the first target at 7,700, and the broader bullish structure remains intact. After a period of consolidation, price bounced directly from the Daily FVG, confirming that buyers are still defending the key support zone. With momentum remaining strong, 7,900 is now the next major target, representing the 50% extension of Wave 3. If momentum continues, a move toward new highs could develop early this week. However, I’m not chasing price at these levels. The market is already extended after the recent rally, which makes the risk/reward less attractive for fresh longs. Instead, I’m watching for another pullback into the next bullish Daily FVG. A clean retest followed by a successful
$S&P 500(.SPX)$ The triangle has now completed, with Friday's low marking the end of Wave 4. Price has since moved above the July 15 B-wave high, confirming that Wave 5 is officially underway. The breakout is supported by a newly formed daily Fair Value Gap (FVG), which now serves as the first layer of support. As long as price holds above this zone, the broader uptrend remains intact and shallow pullbacks are likely to attract buyers rather than trigger a deeper reversal. The initial upside target at 7,700 has already been achieved. With momentum still firmly on the bulls' side, the next objective is 7,900, representing the 50% extension of Wave 3. That said, the market is becoming extended after the recent advance. Rather than chasing streng
$SPX Tests Make-or-Break Resistance for New All-Time Highs
$S&P 500(.SPX)$ produced the bounce bulls needed. Now retesting the bearish Daily FVG resistance at 7527. Daily close above it → BUY SIGNAL → new all-time highs. Triangle low still holds. Lean: we invert this resistance tomorrow. $SPDR S&P 500 ETF Trust(SPY)$$NASDAQ 100(NDX)$$Invesco QQQ(QQQ)$$Dow Jones(.DJI)$ As I predicted a few days ago, Do or die for $SPX. Price held the W4 triangle low. $NQ swept its June low. SPX didn't. Bullish SMT — DIVERGENCE PRINTED. A new bearish FVG is now the last thing standing between us and new all-time highs. Daily close above the FVG re
$SPX Holds the Line: Bullish SMT Divergence Signals Potential Breakout
$SPX defended the W4 triangle low while $E-mini Nasdaq 100 - main 2609(NQmain)$ swept its June low, creating a bullish SMT divergence. The key trigger now is a breakout above the bearish FVG resistance — a daily close above that level could confirm a new move toward all-time highs. Meanwhile, $MSFT’s Elliott Wave setup hit the 402 target, validating the bullish thesis. 1. $S&P 500(.SPX)$ Do or die for $SPX. Price held the W4 triangle low. $NQ swept its June low. SPX didn't. Bullish SMT — DIVERGENCE PRINTED. A new bearish FVG is now the last thing standing between us and new all-time highs. Daily close above the FVG resistance = BUY SIGNAL. Lean stays bullish. Below the triangle → local top warning
$SPX Support Holds While $AAPL Delivers Another Winning Trade
The S&P 500 continues to respect its bullish technical structure. After breaking above the triangle's B-wave high, the index pulled back into a newly formed daily Fair Value Gap, where buyers quickly stepped in. With support holding and CPI serving as the next major catalyst, the path toward fresh all-time highs remains intact, while disciplined trade execution continues to deliver results. 1. $S&P 500(.SPX)$$S&P 500(.SPX)$ cleared the triangle's B-wave high, then pulled back. A new bullish Daily FVG formed at 7508–7488 — and price just tapped it. This is the shallow pullback the setup wanted. Support doing its job. Lean: resolves higher. CPI is the catalyst. 7620 all-time high is the path of
Momentum continues to build across major U.S. equities. $SPX, $AAPL, and $MSFT have all triggered bullish technical setups, with Elliott Wave, Fair Value Gap (FVG), and intraday confirmation signals pointing to the potential for further upside if key support levels continue to hold. $S&P 500(.SPX)$ DELIVERED. The W4 triangle is complete. The multi-week W5 rally is underway. Now holding a lower-timeframe bullish W4/W5 setup beneath the weekly high. Above yesterday’s low: DIPS BOUGHT. $Apple(AAPL)$ produced a beautiful W4/W5 set up. Long alert triggered after getting an m15 iFVG. Doubled down at this mornings dip. First target reached for W5. $Microsoft(MSFT)$