SPX500USD| BEARISH VOLUME HELLO
SPX500
The price followed my previous analysis, experiencing a sharp decline. After such a steep drop, a corrective movement is necessary, and currently, the price is in a retracement phase toward the 5886 level. If it manages to break above this level, the price is likely to extend its upward correction, potentially reaching the upper boundary of the channel or even testing the 5947 resistance.
However, despite this short-term correction, the overall bearish trend remains dominant. Once the correction phase is exhausted, we anticipate the price to resume its downward movement, breaking through all intermediate support levels until it reaches the primary bearish target at 5777. This expectation aligns with the prevailing downtrend structure, reinforcing the continuation of bearish momentum.