S&P 500 Roadmap: Breakout Confirmed, More Upside Ahead?

Apr 9

As I expected in the previous idea, the S&P 500 index(SPX) started to rise and reached all of its targets(full target).

At the moment, the S&P 500 index seems to have broken the resistance zone($6,777-$6,709) and has formed an ascending channel during this recent rise.

From an Elliott Wave perspective, it appears that the S&P 500 index is completing its main wave 4, and we can anticipate another upward move as the main wave 5.

I expect the S&P 500 index to continue its upward trend in the coming hours and rise at least to $6,846.

Target: $6,846

Stop Loss(SL): $6,691

Points may shift as the market evolves

What do you think about the S&P 500 index and the U.S. stock market?

Note: A very important trading level is $6,860, which is a key level. If it’s broken, we could see new all-time highs for the S&P 500 index.

Note: the ongoing negotiations and ceasefire in the Middle East between Iran, the U.S., and Israel could play a significant role in continuing or halting the upward trend, so we must follow updates on that conflict.

💡 Please respect each other's opinions and express agreement or disagreement politely.

📌 S&P 500 Index Analyze (SPX500USD), 4-hour time frame.

🛑 Always set a Stop Loss(SL) for every position you open.

✅ This is just my idea; I’d love to see your thoughts too!

🔥 If you find it helpful, please BOOST this post and share it with your friends.

Apr 10

Trade active

Trade was activated

Apr 14

Trade closed: target reached

Full Target Done