Alex Bobrov
⬤ The S&P 500 keeps pushing higher as we head into 2026, tracking what looks like a textbook Elliott Wave impulse on the daily chart. After nailing the bottom zone earlier in 2025, the index bounced hard from around 5,100 and hasn't looked back. The long-term bullish setup stays intact as long as we're trading above the invalidation level at 4,836.
⬤ What we're seeing is a clean five-wave advance unfolding after the correction wrapped up in early 2025. Price built a solid base near 5,100, then climbed through a series of higher highs and higher lows—exactly what you'd expect in an impulse wave. Right now, the market appears to be working through the final stages of this bullish leg, and the structure suggests there's still upside left before things cool off.
⬤ The forecast does show a potential A-B-C correction coming down the pipeline once this rally exhausts itself. But that's more of a breather than a reversal—think consolidation, not collapse. The key takeaway: this isn't the time to get defensive. As long as the S&P stays above that 4,836 floor, the path of least resistance is still higher.
⬤ Bottom line—the S&P 500 is respecting its Elliott Wave roadmap, and that's giving traders a solid framework to work with. The index is holding above major support, the trend remains strong, and the projected correction should just be a pause in the bigger picture. Keep an eye on how price behaves once this impulse completes and the next pullback begins. That'll tell us a lot about what's coming next in this cycle.
Alex Bobrov
