Market Analysis – SPX500 (S&P 500 Index CFD)
The SPX500 is currently exhibiting a strong bullish structure, consistent with the characteristics of an Elliott Wave 3 extension. This wave phase is typically the most powerful and impulsive part of a bullish cycle, often driven by increasing market confidence, strong macroeconomic fundamentals, and institutional accumulation.
After completing a textbook corrective Wave 2, the index has broken key resistance levels with strong momentum, confirming the beginning of Wave 3. What sets this phase apart is its capacity to generate accelerated gains, often surpassing expectations and historical highs.
Key signs supporting the Wave 3 hypothesis:
High volume breakout from consolidation zones.
Higher highs and higher lows structure on multiple timeframes.
Confirmation from supporting indicators such as RSI holding above 50 and MACD showing strong upward momentum.
What’s next?
As long as market structure remains intact and no significant bearish divergence appears, we can expect multiple new all-time highs to be formed during this wave. Traders should look for retracement entries using Fibonacci levels (e.g., 38.2% or 50% pullbacks) to ride the trend while managing risk carefully.
Outlook:
Bullish bias remains strong. Strategic buying during minor corrections could offer favorable risk-reward setups throughout the progression of this wave.
The SPX500 is currently exhibiting a strong bullish structure, consistent with the characteristics of an Elliott Wave 3 extension. This wave phase is typically the most powerful and impulsive part of a bullish cycle, often driven by increasing market confidence, strong macroeconomic fundamentals, and institutional accumulation.
After completing a textbook corrective Wave 2, the index has broken key resistance levels with strong momentum, confirming the beginning of Wave 3. What sets this phase apart is its capacity to generate accelerated gains, often surpassing expectations and historical highs.
Key signs supporting the Wave 3 hypothesis:
High volume breakout from consolidation zones.
Higher highs and higher lows structure on multiple timeframes.
Confirmation from supporting indicators such as RSI holding above 50 and MACD showing strong upward momentum.
What’s next?
As long as market structure remains intact and no significant bearish divergence appears, we can expect multiple new all-time highs to be formed during this wave. Traders should look for retracement entries using Fibonacci levels (e.g., 38.2% or 50% pullbacks) to ride the trend while managing risk carefully.
Outlook:
Bullish bias remains strong. Strategic buying during minor corrections could offer favorable risk-reward setups throughout the progression of this wave.
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