The S&P 500 (SPX) rally since 04/07/25 has a steeper angle than any other rally in nearly three years. This action could be the sign of a blow off top.
The daily SPX chart courtesy of Trading View examines the bull market since the significant bottom made in October 2022.
The rally angle since 04/07/25 is so far 70.62, steeper than any previous bull segment since October2022. This type of sharp rally occurs in two parts of a bull movement. The beginning segment which is called the kick off rally, and the termination of a bull movement called a blow off.
Please note the second steepest rally since October 2022 was the October 2022 to November 2022 movement- labeled #1. This was the kick off of the 2022 to 2025 bull market.
A case could be made that the move up from 04/07/25 is the kick off phase of a much larger bull move in the coming months. In 2025 SPX fell 21% in two months vs. a nine-month bear market of 27% in 2022. Perhaps the 2025 drop was a mini- bear market and the current rally is the dawn of a multi – month or multi-year bull market.
Elliott wave analysis and time cycles imply a significant decline for U.S stocks could be starting soon. How soon? Possibly 07/01/25.
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