The Road to 10,000, Why I'm Calling a Bottom in $SPX
π The $S&P 500(.SPX)$ Bottom Is In β New All-Time Highs Ahead?
Today's rally confirmed the bullish WXY correction, and I'm now looking for the next leg higher.
Here's what I'm watching across the major indexes:
π $S&P 500(.SPX)$ : Bottom Confirmed
The 3-wave WXY correction reached the 200DMA, completing the W4 pullback.
$SPX held its July lows while $NDX swept below them, creating a bullish SMT divergence.
I want to see this rally extend a bit higher and leave a new daily FVG behind. A pullback into that gap will be my next buying opportunity.
The next target is a W5 advance toward 8,000β8,400.
Invalidation: 7,350 (PWL).
The road to 10,000 continues.
β‘ $E-mini Nasdaq 100 - main 2612(NQmain)$ : 650-Point Breakout
$NQ printed an ABC down pattern this morning, with bullish SMT divergence against $ES and $YM.
The trigger came, and price exploded to the 1.272 extension, delivering a 650-point move. One member captured more than 350 points on Vest.
That's the ABC Model in action.
π’ $E-mini Russell 2000 - main 2612(RTYmain)$ : Buy Signal Triggered
Yesterday, I told the Discord community that a move above the MB would confirm the ABC correction was complete.
Today, price pushed straight through that level.
Another major reversal signal from the ABC Model.
π $E-mini S&P 500 - main 2612(ESmain)$ : Textbook ABC Reversal
$ES formed a textbook ABC decline, with wave C reaching the same level as wave A, right at monthly FVG support.
Price has now triggered a bullish CISD, confirming the ABC reversal.
What many feared was the beginning of a crash turned out to be a classic reversal pattern.
I'm bullish. New all-time highs come next.
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