Opportunity to Sell the S&P 500 on a Correction

The US S&P 500 index continues its decline following previous selling pressure.

The index broke through recent support levels and fell sharply, creating strong selling zones on the 4-hour timeframe.

The outlook remains bearish, so it is advisable to focus on selling on any corrective rallies.

Expected Targets

Currently, if the index rebounds and tests the identified selling zones around 6492, we expect to see a renewed decline to the targets of 6467 and 6425, respectively.

This analysis and bearish forecast will be invalidated if the 4-hour candle breaks and closes above the identified selling zones.