Elliott Wave View: S&P 500 (SPX) Breaking to New All-Time HighShort term Elliott Wave in S&P 500 (SPX) suggests that pullback to 5774.1 ended wave ((4)). The Index has resumed higher in wave ((5)) and broken above previous wave ((3)) peak. Wave ((5)) is in progress as a 5 waves impulse Elliott Wave structure. Up from wave ((4)), wave ((i)) ended at 5871.9 and pullback in wave ((ii)) ended at 5805.4. Wave ((iii)) higher ended at 5964.69 and pullback in wave ((iv)) ended at 5930.72. Final leg wave ((v)) ended at 6128.18 and this completed wave 1 in higher degree.
Pullback in wave 2 unfolded as a zigzag Elliott Wave structure. Down from wave 1, wave ((a)) ended at 5962.92 and rally in wave ((b)) ended at 6120.91. Wave ((c)) lower ended at 5923.9 which completed wave 2 in higher degree. The Index has resumed higher again in wave 3. Up from wave 2, wave ((i)) ended at 6101.28 and pullback in wave ((ii)) ended at 6003. Up from there, wave (i) should end soon, and the Index should pullback in wave (ii) to correct cycle from 2.12.2025 low before it resumes higher. Near term, as far as pivot at 5774.1 low stays intact, expect pullback to find buyers in 3, 7, or 11 swing for further upside.
