SPX - A new all-time highs become more likely

TRIGGER TRADES
2025-05-13

$S&P 500(.SPX)$ Despite the bullishness, both the bull and bear scenarios point to a MAJOR PULLBACK looming, as the rally from the April 21 low nears completion

Measured targets of 5877-5950 should terminate the rally, with the cross of the 50% retracement from 05/07 being a warning sign it is complete - currently 5713.

I am looking at price to return to the Daily FVG at 5642-5582 for both variations. The bull case sees this pullback as a 4th wave, setting up for a multi-week rally to complete the 5th.

For bears, a Daily close below 5582 followed by a breach of the 50% retracement of the April 21 rally would confirm the bear market. However, if we break 5930, new all-time highs become more likely.

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2506(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2506(NQmain)$

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