SPX500 BUYS&P 500SP:SPXZaks_ForexRulesGreeting there traders this is my analysis on 📊 S&P 500 – Potential Elliott Wave 3 Formation | Long Setup The current 4H chart of the S&P 500 suggests a potential bullish continuation based on Elliott Wave Theory. Here's the structured breakdown: 🔹 Wave 1: Initiated after a failed breakout and sharp reversal from a previous resistance zone. This impulsive move marked a key shift in trend structure. 🔹 Wave 2: A corrective phase followed, consolidating near the support area (~5,915), respecting previous demand. 🔹 Current Price Action: Price has broken above the minor resistance at 6,000, indicating the potential beginning of Wave 3, which is typically the strongest and most extended wave in the sequence. 📈 Trade Setup: Entry: Above 6,000 (confirmation of breakout and wave continuation) Stop Loss: Below 5,915 (invalidates bullish structure if broken) Target Zone: 6,167 – 6,170 (aligned with prior resistance and wave projection) 🔍 Additional Notes: The breakout is supported by a clean structure and rejection from key support. Ideal scenario would involve increasing volume and continuation with higher highs and higher lows. 📌 Bias: Bullish – targeting Wave 3 extension. ⚠️ Always manage risk accordingly and watch for signs of exhaustion or divergence. Dear Traders like,comment let me know what do you think?