#S&P 500 ANALYSIS

The S&P 500 has broken down from the rising wedge pattern, with both the 21MA and 50MA acting as resistance above the price action. It is currently undergoing a retest of the pattern’s breakdown zone. A successful retest would likely confirm further downside.

However, if the price breaks back above the pattern, it could resume trading within the wedge. Monitor closely for confirmation of the next move.

Notably, the S&P 500’s price action often aligns with cryptocurrency market trends, making it a crucial indicator of broader market sentiment.