The S&P500 Index(
SPX) started to rise and even created a new All-Time High(ATH=$6,428) with the help of the Bullish Long Island Pattern, as I published in my previous idea on May 14, 2025.
The S&P500 Index is currently moving near the Potential Reversal Zone(PRZ)[$6,500-$6,350], upper line of the ascending channel, the Important Resistance line, and the Yearly Resistance(1).
In terms of Elliott Wave theory, the S&P500 Index appears to be completing microwave 5 of microwave 5 of the main wave 5.
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.
I expect the S&P500 Index to correct at least -4% and fall to the lower line of the ascending channel.
First Target: $6,233
Second Target: $6,033
Note: Stop Loss(SL) $6,513
Do you think S&P500 Index can create a new ATH above $6,500!?
Please respect each other's ideas and express them politely if you agree or disagree.
S&P 500 Index Analyze (SPX500USD), Daily time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
SPX) started to rise and even created a new All-Time High(ATH=$6,428) with the help of the Bullish Long Island Pattern, as I published in my previous idea on May 14, 2025.The S&P500 Index is currently moving near the Potential Reversal Zone(PRZ)[$6,500-$6,350], upper line of the ascending channel, the Important Resistance line, and the Yearly Resistance(1).
In terms of Elliott Wave theory, the S&P500 Index appears to be completing microwave 5 of microwave 5 of the main wave 5.
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.
I expect the S&P500 Index to correct at least -4% and fall to the lower line of the ascending channel.
First Target: $6,233
Second Target: $6,033
Note: Stop Loss(SL) $6,513
Do you think S&P500 Index can create a new ATH above $6,500!?
Please respect each other's ideas and express them politely if you agree or disagree.
S&P 500 Index Analyze (SPX500USD), Daily time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Trade was activated on Potential Reversal Zone(PRZ)[$6,500-$6,350]
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🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.