Yesterday, US stocks opened lower and continued to decline, with four consecutive bearish candles in the four-hour cycle, indicating a dominant downward trend. The Relative Strength Index (RSI) is at a low level but has not yet reached an oversold condition, and the overall trading volume is relatively low. Key support level to watch today is the double bottom support at 1074; if this support level holds, there is still a chance for a rebound. The resistance levels above are 108600 and 109700.
On the other side, the market is currently at the top of a horizontal range, consolidating at this position without achieving an effective breakout. Today's key level to watch is 2503; if this level breaks, it can confirm entry into a downward trend. The resistance levels above are 25550, 2580, and 2600.
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