Chart Room – Indexes | Stocks | Futures

SPX Cash Index

? SPX Cash Index – Daily Wave Count (Updated Aug 23, 2025)

The S&P 500 continues to advance within the larger primary wave structure, now pressing into the resistance zone near 6500–6550. Wave 5 is maturing, and price action is testing the 200% Fibonacci extension at 6504.41.

If this zone holds, we may see a corrective pullback into the Fibonacci retracement zone (FRZ) at 6209–6505 before the broader trend resumes. Key support levels remain at 6147 and the April low at 4835.

? Key Levels

  • Resistance Zone: 6500–6550

  • FRZ Support: 6209–6505

  • Invalidation: Below 6147

  • Major Support: 4818

This Elliott Wave structure highlights the importance of discipline at key inflection zones. Options traders can position with defined-risk structures such as butterflies or calendars into resistance, allowing for high reward-to-risk setups if wave 4 develops.

At OptionFlys.com, we combine Elliott Wave counts, Fibonacci confluence, and our proprietary buy/sell signal system to deliver world-class trade setups. Stay disciplined, trust the structure, and let probabilities play out.

Aug,23,2025 Read More +

QQQ 2H Wave Count

? QQQ – 2 Hour Wave Count (Updated Aug 23, 2025)

The Nasdaq QQQ ETF is advancing within the larger wave 3 structure, consolidating just under the 588.32 resistance zone. A breakout above this level would confirm wave (iii) of 3, projecting toward the 261.8% Fibonacci extension at 605.31.

If consolidation deepens, support levels to watch are the 100% Fib extension at 559.65 and the 200% projection at 557.73, marking potential completion of wave 4 before the next push higher. Major structural support remains at 540.81.

? Key Levels

  • Resistance: 588.32

  • Upside Target: 605.31 (261.8% extension)

  • Wave 4 Support: 559.65 – 557.73

  • Major Support: 540.81

This setup favors defined-risk call structures such as vertical spreads or call butterflies to capture wave 3 momentum while containing risk.

At OptionFlys.com, we align Elliott Wave counts, Fibonacci projections, and our proprietary signal system to deliver high-probability option strategies. Stay disciplined and trade the structure.

Aug,23,2025 Read More +

IWM 2H Wave Count

? IWM – 2 Hour Wave Count (Updated Aug 23, 2025)

The Russell 2000 (IWM) continues its advance in wave 3 of (1) with upside momentum building. Price is targeting the 244.98 level (100% Fib extension), with potential to extend toward the 127.2% projection at 259.83 as wave 5 unfolds.

A corrective pullback into wave 4 support near 227.05 would be constructive before the next advance. Additional retracement support is noted around 214.49.

? Key Levels

  • Upside Target: 244.98 (100% extension)

  • Extended Target: 259.83 (127.2% extension)

  • Wave 4 Support: 227.05

  • Secondary Support: 214.49

IWM remains a high-beta index, making it ideal for defined-risk call strategies such as vertical spreads or butterflies into wave 3/5 projections. Pullbacks toward support zones provide attractive entry opportunities with controlled risk.

At OptionFlys.com, we combine Elliott Wave structure, Fibonacci precision, and proprietary signals to deliver actionable trade setups. Stay disciplined and follow the levels.

Aug,23,2025 Read More +

DIA Daily Wave Count

? DIA – Daily Wave Count (Updated Aug 22, 2025)

The Dow Jones ETF (DIA) is advancing in wave (v) of 1, with price holding above the key 451.55 support zone. The structure favors continuation higher toward the 127.2% Fibonacci projection at 477.99, provided that support levels remain intact.

Should a correction occur, initial retracement support sits near 431.12, while the wave count invalidation level lies at 433.40. A sustained break below this region would shift focus to deeper consolidation before resumption higher.

? Key Levels

  • Resistance / Target: 477.99 (127.2% extension)

  • Near-Term Support: 451.55

  • Secondary Support: 431.12

  • Invalidation: 433.40

For traders, DIA offers a slower-moving index relative to SPX and QQQ, making it attractive for vertical spreads or diagonals that benefit from defined risk with time premium. Momentum favors continuation, but risk control remains essential below support.

At OptionFlys.com, we integrate Elliott Wave counts, Fibonacci projections, and proprietary signals to deliver precise market guidance. Trust the structure, follow the levels.

Aug,23,2025 Read More +