$SPX May is pivotal here.
???? Bullish Case: Breakout
Weekly reclaim above 5,637 (1.618 fib) and holding above that zone = breakout continuation.
Targets: 5,880 (JPM collar short calls) and then possible stretch toward 6,100+.
Momentum candles are strong off the lows, and volume is backing the move.
???? Bearish Case: Right Shoulder Forming
Current price aligns with potential right shoulder of a broader H&S.
If price gets rejected near 5,700 and rolls over → neckline is around 5,180–5,200.
Breakdown below there would confirm the pattern with measured move ~4,800.
SELL IN MAY GO AWAY?
Weekly close above 5,700 = likely invalidates H&S → continuation higher.
Rejection + bearish reversal this month = high probability right shoulder + short setup.
Keep watching weekly structure and macro catalysts — breakout vs H&S rejection should be clearer by May 17–24 window.
https://www.threads.com/@millionaire.traders....t_djTB4RyQ
???? Bullish Case: Breakout
Weekly reclaim above 5,637 (1.618 fib) and holding above that zone = breakout continuation.
Targets: 5,880 (JPM collar short calls) and then possible stretch toward 6,100+.
Momentum candles are strong off the lows, and volume is backing the move.
???? Bearish Case: Right Shoulder Forming
Current price aligns with potential right shoulder of a broader H&S.
If price gets rejected near 5,700 and rolls over → neckline is around 5,180–5,200.
Breakdown below there would confirm the pattern with measured move ~4,800.
SELL IN MAY GO AWAY?
Weekly close above 5,700 = likely invalidates H&S → continuation higher.
Rejection + bearish reversal this month = high probability right shoulder + short setup.
Keep watching weekly structure and macro catalysts — breakout vs H&S rejection should be clearer by May 17–24 window.
https://www.threads.com/@millionaire.traders....t_djTB4RyQ
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