SPX Blow-Off Top = Final Wave Before Correction
$S&P 500(.SPX)$ Blow-Off Top = Final Wave Before Correction🔥
SPX is in its 5th wave from the April low, already hitting 6600 (61.8% W1). The rally still has room toward 6700 (log 61.8%) and even 6800 (100% W1) in a blow-off-the-top scenario.
New Daily bullish FVGs show strong order flow, and no bearish SMT divergence yet (warning of waning momentum). Upside bias likely holds into FOMC Wednesday, the key catalyst.
⚠️ But with a completed 5-wave advance from April and negative RSI divergence, risk of a higher-degree correction is rising — potentially pulling back toward the Monthly FVG support at 6200–6000.
First Warning: Close below 6556
Confirmed Reversal: 6405 (50% of W5)
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2509(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2509(NQmain)$ $Dow Jones(.DJI)$ $iShares Russell 2000 ETF(IWM)$ $E-mini Russell 2000 - main 2509(RTYmain)$ $E-mini Dow Jones - main 2509(YMmain)$
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- ATian·09-16Great ariticle, would you like to share it?LikeReport