The post Nasdaq and S&P 500 near exhaustion appeared on BitcoinEthereumNews.com.

The E-Mini Nasdaq and S&P 500 approach the final wave of their five-year bull cycles, while Gold and the VIX begin to turn — signalling a possible shift from complacency to caution across global markets. The calm before the turn Global equity markets remain euphoric as the E-Mini Nasdaq and S&P 500 push toward record highs. Beneath the surface, however, subtle shifts in intermarket structure are emerging — Gold Futures are showing early signs of reversal, and the VIX volatility index has quietly built a base after months of calm. This combination — equity indices nearing technical exhaustion while defensive assets and volatility begin to firm — echoes past transitions in 2018, 2020, and 2021, where market sentiment shifted rapidly from confidence to caution. Nasdaq and S&P 500: The final wave of a five-year cycle The E-Mini Nasdaq is advancing into a crucial resistance zone between 26,324 and 27,207, completing what appears to be the final leg of a five-year Elliott wave structure that began in 2020. The RSI hovering near 70 and flattening momentum suggest the rally may be running on borrowed time. E-Mini Nasdaq approaches major resistance zones as Gold and the VIX begin to diverge. Similarly, the E-Mini S&P 500 is testing the 7,471–7,230 region — a major supply zone that coincides with Fibonacci extensions of prior waves. Both indices have experienced two significant corrections within this broader structure, each followed by a rebound that maintained the bull trend. A similar outcome this time would imply a potential 15–35% pullback, targeting the 6,244 zone for the S&P and 22,409–21,536 for the Nasdaq. E-Mini S&P 500 approaches major resistance zones as Gold and the VIX begin to diverge. Macro conditions align with this exhaustion. Yields remain elevated near 4.5%, profit growth is decelerating, and liquidity continues to tighten…

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Filed under: News - @ November 2, 2025 11:14 pm