S&P 500 Analysis

The S&P 500 has broken down from its ascending triangle pattern and successfully retested the level. Currently, the 50-day moving average is acting as resistance, while the 100-day moving average and the Ichimoku Cloud provide key support. A rebound from this zone could indicate a recovery, whereas a break below the 100MA and Cloud may lead to further downside.

These critical levels should be closely monitored, as the S&P 500’s movements often correlate with cryptocurrency trends, making it a key indicator of broader market sentiment.