An Elliott – Impulse wave down from the S&P 500 (SPX) all-time high appears to be complete. If so, this could be the first wave of a larger developing bear trend.
Evidence from the 15 – minute MACD and RSI support this theory.
Both had bullish divergences at the 02/28/25 intraday bottom.
This is a typical action after a fifth wave termination.
There’s a good chance for SPX to rally in the next one or two trading days.
Evidence from the 15 – minute MACD and RSI support this theory.
Both had bullish divergences at the 02/28/25 intraday bottom.
This is a typical action after a fifth wave termination.
There’s a good chance for SPX to rally in the next one or two trading days.
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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.
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.