Technical analysis by Wave-Tech about Symbol SPYX: Buy recommendation (9/23/2025)

When it does, how long will that top last? The question on the minds of many is just how high this blow-off top in the stock market will go. The cyclical bull market is running a bit long in the tooth and, by every conceivable measure, should be due for a healthy correction at the very least. No, we’re not talking about the bull market run from the Tariff Tantrum lows in April; we’re talking about a 16-year run-up from the 2009 lows of the Great Financial Crisis—a low, in my view, that was never allowed to clear adequately. The chart below illustrates the short-term, quintessential V-shaped recovery rebound from the April lows this past spring. These instant recoveries to fresh all-time highs have been a hallmark since the COVID bottom in 2020. The daily chart above shows five clear waves of advance within a larger broadening pattern. Though a top can form at a moment’s notice from this point forward, the daily chart indicates two outstanding upside price targets at 7,006.88 and 7,431.22, respectively—each a Fibonacci extension of previous wave relationships. Near-term downside targets ripe for the taking amid any meaningful pullback are represented by the four open gaps listed in the daily chart. Next, we’ll zoom in a bit closer, looking at a 3-hour chart just before today’s close, with the S&P down slightly, just over half of one percent. You can read the balance of the article, charts, and analysis at Wave-Tech's Charting the Fourth Turning . Thanks for tuning in and for any support, comments, or suggestions you may have.