S&P 500 - Short - Term Elliott Wave Count - 02/28/25

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.