S&P 500 Index.4H CHART PATTERN.the S&P 500 Index (4H timeframe), it appears you're using a combination of Ichimoku Cloud, trend channels, and support/resistance zones to project downside targets. Here's the breakdown of your marked targets:
📉 Bearish Targets:
1. Target 1: Around 5,500
2. Target 2: Around 5,200
3. Target 3: Around 4,950–4,900
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🔍 Technical Observations:
Price has broken below the upward trend channel.
It's entering the Ichimoku Cloud, signaling potential consolidation or bearish pressure.
The large blue downward arrow indicates a bearish expectation, possibly tied to macro/fundamental concerns or technical reversal patterns.
The grey resistance block near 5,960–6,000 suggests failed breakout/retest.
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📌 Summary:
If current bearish momentum continues:
✅ Immediate Target: 5,500 (first major support)
⚠ Medium Target: 5,200
🔻 Final Target Zone: 4,900–4,950 (strong previous support and fib zone)
Let me know if you want stop-loss ideas, confluence indicators, or entry strategy breakdowns!
