S&P 500: Last Bullish PushUS SPX 500OANDA:SPX500USDshakatrade1_618 On the medium-term horizon SPX500USD SPY ES1! still looks like a clean impulse: Wave 3 shows a classic extension Wave 2 is a sharp zigzag Wave 4 has the structure of a flat – a running flat on S&P, while Nasdaq 100 forms something closer to an EFL Connecting waves 1–3 and 2–4 gives us an almost perfect trend channel, which strongly supports the impulsive interpretation. At the same time, the main volume cluster sits near the highs, which is typical for a distribution phase. Before a proper medium-term reversal, I still expect one more leg up as a final blow-off 5th wave. From a local-structure perspective, the last leg higher looks very much like a leading diagonal. My base case: 📉 first, a correction 📈 then continuation to new highs within wave 5 🔻 Invalidation: a break and confirmed close below 6600 would cancel the bullish scenario and suggest that the impulse is already complete. 🎯 Upside levels: Primary target zone: 7100–7200 Extended target: up to 7400 Not financial advice – just my working roadmap as long as price action respects the channel and stays above 6600.