S&P 500 Analysis: Will the 6,500 Level Trigger a Major Bullish Reversal?

The W-X-Y-X-Z complex corrective structure observed on the S&P 500 4H chart technically points to one final downward wave. The selling pressure from the peak completed its "intermediate reaction" via Wave (b) and has now given way to an impulsive decline. According to our analysis, the price is expected to stretch toward the 6,495 - 6,470 point region and conclude the long-term Wave (4) correction there. This zone aligns perfectly with both the Fibonacci 0.236 level and historical structural supports. Continued downward momentum will confirm this "ultimate bottom" scenario. To ensure you don't miss these critical market reversals and professional trade setups, subscribe to the Ewplans newsletter now!