S&P 500 at Make-or-Break Level – Bulls’ Last Chance!US SPX 500OANDA:SPX500USDpejman_zwinAs I expected in the previous idea, the S&P 500 index(SPX) has reached its target. Given that the S&P 500 index has a strong correlation with other financial markets, especially Bitcoin(BTCUSDT)—sometimes even tracking them candle-by-candle—it's a good idea to pay extra attention to the S&P 500 index these days. Currently, the S&P 500 index is moving in a Heavy Support zone($6,775_$6,689), although it entered this zone with a lot of downside momentum. From a classic technical analysis perspective, there's still a chance that the descending broadening wedge pattern will hold. As long as this pattern isn't invalidated, we can still hope for at least a short-term bullish move. From an Elliott Wave perspective, it seems like the S&P 500 index is completing the microwave 4 of the microwave C of the main wave Y within the descending broadening wedge. I expect that after the next small dip, the S&P 500 index will start rising again from near the lower boundary of the wedge, the 50_SMA(Daily), and Support lines. Note: If the S&P 500 index falls below about $6,650, we should expect further downside. So let's keep an eye on that level. Please respect each other's ideas and express them politely if you agree or disagree. S&P 500 Index Analyze (SPX500USD), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.