S&P 500 index Near Channel Break — Momentum Is Building

Apr 1

The S&P 500 index(SPX500) began to rise after news that a ceasefire between Iran and the United States was likely in the coming days, and Trump's statement that the war would end in three weeks created a wave of optimism among investors.

The S&P 500 index seems to have managed to break through the resistance zone($6,580-$6,490), and we should wait for the upper line of the descending channel to break.

In terms of Elliott Wave theory, the S&P 500 index seems to have completed the Double Three Correction pattern(WXY) inside the descending channel.

I expect the S&P 500 index to continue its upward trend in the coming hours and break the upper line of the descending channel. Trump's speech in the coming hours could also have a great impact on the trend of this index.

First Target: $6,687

Second Target: $6,781

Stop Loss(SL): $6,487(Worst)

Points may shift as the market evolves

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

Note: Since Bitcoin has a high correlation with the S&P 500 index these days, an increase in this index could lead to a possible increase in Bitcoin(BTCUSDT) in the coming hours.

💡 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 2

Note

Trump made no statements about ending the war, and once again, financial markets moved lower. However, it’s important to keep key support and resistance zones in focus.

Overall, global markets are moving with strong correlation right now — the S&P 500 index, Bitcoin, and Gold are all showing similar directional behavior.

Apr 2

Trade active

Trade was activated

Apr 8

Trade closed: target reached

Full Target Done

Thank you for your patience