US500: Bearish Bias Intraday – Trend is Friend

Market View

US500 is clearly bearish. Current price 6026.42, down -0.39% today, showing weakness. We've seen resistance hold at 6061.79 within the day range. Macro headwinds continue to drive risk-off sentiment. Simple is best: the trend is down.

The Setup

Looking for a short entry at 6035. This targets a retest of resistance before further downside. Stop Loss tight at 6077, just above the daily high. My target is an aggressive 5929, aiming for a break of the 5950 support. Textbook entry when fading a bounce in a downtrend. Let it play out.