Bearish WXY Model Forming at Key Resistance – Caution at the Top

SPX just crossed the Monthly High, but the structure resembles a bearish WXY correction, and we’re now approaching critical levels.

🔍 Key Levels to Watch:

5481–5572: Weekly FVG resistance + 61.8% Fib Extension – potential top of the rally.

5293: The 50% retracement from the Apr 20 low – a break below confirms the bearish WXY and opens the door to new lows.

📌 Scenario Outlook:

✅ Bullish case: Room for upside toward 5685–5750, but only if we close above 5572 Weekly to invalidate the FVG.

⚠️ Bearish case: Current price action aligns with divergence (as seen with DJI) + WXY model. Caution advised — rallies may be fading.

💬 Chart attached shows the WXY structure forming with key divergences.