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SP500 - SELL IDEA

Short
S&P Index Cash CFD (USD) (VANTAGE:SP500)  
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VANTAGE:SP500   S&P Index Cash CFD (USD)
Trend Analysis Harmonic Patterns Chart Patterns S&P 500 (SPX500) sp500short Indices trading investing newsignal freesignals signalprovider telegramsignals
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trendanalysis harmonicpatterns chartpattern spx500 sp500short indices trading investing newsignal freesignals signalprovider telegramsignals
Analyzing SP500 on the 45-minute chart using Elliott Wave Theory, I observed that wave (5) marked the end of the recent upward move. Following this, I am expecting wave (a) to initiate a downward correction. The first potential target for wave (a) is around 5278.63, corresponding to the 0.382 retracement level. If the downward momentum continues, wave (a) could extend to 5262.91, which aligns with the 0.5 retracement level, or further to 5247.18, the 0.618 retracement level. This setup suggests a short position on SP500.
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