S&P 500 Setting Up for a Breakout – But Not Before One More Trap

3月21日

As I’ve said before, the SPX500 is a key reference for my crypto trading. That’s why I sat down and took a closer look at the chart – and I’m now ready to place a limit order, based on what I’m seeing.

I believe we’re still in a correction phase, and it’s far from over. However, I think it’s realistic that we’ll see a move toward $5,832 next week. Before that happens, I expect either today’s Monday Low or next week’s Previous Weekly Low to get swept, ideally triggering a dip into the 12-hour Fair Value Gap just below.

That’s where I see my entry zone forming. It’s also the exact area where Wave B overshoots the starting point of Wave ABC, making it a clean Flat correction pattern, with Wave C completing to the downside before we get a solid move upward.

I’m setting my stop-loss below the $5,500 low. If this setup plays out, I expect the S&P to push toward $5,832, and after that, I’m anticipating a larger correction that could take the index back down to $5,500 or even $5,450 over the coming weeks.

Timing remains unclear for that move after, but the structure is here, and I’m looking forward to seeing how it plays out.

3月24日

交易進行

S&P 500: Quick Update – Adjusting My Limit Order

Just a small update on my S&P 500 limit order: I’m making a slight adjustment.

Last Friday, we saw a strong push above the Previous Weekly High (PWH), which for me invalidates the idea that we’ll drop below the Previous Weekly Low (PWL). From here on, I don’t expect price to sweep that low anymore.

I’ve also modified the structure slightly—it’s not the cleanest, but I still believe we’re in a wxy correction moving toward Wave (a).

The target remains unchanged at 5,832, but I’ve moved the entry up slightly, and my stop-loss now sits just below the PWL to reflect the structural shift.

That’s the only update. The scenario is intact—now I let the setup play out or remove it if I get an invalidation alert.