S&P 500 - Ending Diagonal Triangle - February 2025
The S&P 500 (SPX) could be nearing completion of an Elliott wave – Ending Diagonal Triangle (EDT) that began after the 11/04/24 bottom. This formation is the terminal phase of a larger degree trend.
Price frequently throws over the trendline connecting the peaks of the third and first waves. In this case the target zone is SPX 6,145 to 6,165.
Time zone for a top is 02/18/25 to 02/20/25.
Its rare for U.S. stocks to peak in February. The last time this occurred was just before the 2020 covid crash. The SPX peak was made on 02/19/20.
Its possible another SPX February top could be made almost exactly five years after 02/19/20.
Price frequently throws over the trendline connecting the peaks of the third and first waves. In this case the target zone is SPX 6,145 to 6,165.
Time zone for a top is 02/18/25 to 02/20/25.
Its rare for U.S. stocks to peak in February. The last time this occurred was just before the 2020 covid crash. The SPX peak was made on 02/19/20.
Its possible another SPX February top could be made almost exactly five years after 02/19/20.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.