S&P 500 Near the Top? Watch This Reaction CloselyUS SPX 500OANDA:SPX500USDpejman_zwinThe S&P 500 index(SPX500) has maintained a strong bullish trend over the past one to two months, consistently printing new all-time highs on a weekly basis. At the moment, the S&P 500 is moving near a Potential Reversal Zone(PRZ). From an Elliott Wave Theory perspective, it appears the S&P 500 is completing microwave 5 of the main Wave 5, suggesting the bullish cycle is approaching its final stages. Also, we can see a negative Regular Divergence(RD-) between two consecutive peaks. I expect that the S&P 500 could experience a notable correction. If the selling momentum increases and key support lines are broken, we could expect lower targets and deeper downside levels for the index. First Target: $7,531 Second Target: $7,503 Stop Loss(SL): $7,623 Note: Since Bitcoin has shown a strong correlation with the S&P 500 in recent months, a high-momentum correction in the S&P 500 could also impact Bitcoin(BTCUSDT) and the broader cryptocurrency market, potentially leading to further downside pressure across digital assets. What’s your view on the S&P 500? Can it continue its bullish trend and print new all-time highs, or should we expect a larger correction? 💡 Please respect each other's opinions and express agreement or disagreement politely. 📌 S&P 500 Index Analyze (SPX500USD), 1-hour time frame. 🛑 Always set a Stop Loss(SL) for every position you open. ✅ This is just my idea; I’d love to see your thoughts too! 🔥 If you find it helpful, please BOOST this post and share it with your friends.