S&P500 (Bearish Correction Amid Fed impact)

Technical Analysis

The price has risen approximately 210 pips, as mentioned yesterday.
Today, as long as trades remain below 5989, a drop toward 5931 is expected, followed by consolidation between 5931 and 5989 until a breakout.

Alternatively, if a 4-hour candle closes above 5989, it would signal bullish momentum with a potential move towards 6021.

Key Levels:
Pivot Point: 5989
Resistance Levels: 6002, 6021
Support Levels: 5950, 5931, 5891

Trend Outlook: Bearish Correction

previous idea:
S&P 500 Eyes New Highs: 43 ATHs and Counting
SPX (S&P 500 Index)S&P 500 (SPX500)Supply and DemandSupport and ResistanceTrend Analysis

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