SPX Bullish Breakout and Wave 5 Target

3 May

SPX has successfully broken out of the rounding bottom pattern, confirming a strong bullish reversal. After completing waves 1 to 4 within the upward channel, the index is now poised to advance into Wave 5.

The current momentum supports a rally toward the immediate setup target near 6,690, with an ideal continuation into Wave 5. A decisive breach of this resistance could accelerate the move toward the mid-term target around 7,278, activating a new bullish impulse.

The chart highlights key support in the buy zone and emphasizes the importance of a confirmed breakout, offering a high-probability setup aligned with the Wave progression and ongoing trend strength.

5 May

İşlem aktif

5 May

Not

Measured rounding bottom target