US500: Bearish Trend is Friend – Short Play on Weakness

Trend Confirmation

US500 is clearly bearish, sitting at 6031 and down -0.31% over 24h. We're trading well off the day's high of 6059.5. The trend is your friend, and it's pointing south. Broader market sentiment remains shaky, adding pressure to this index.

Intraday Short Setup

I'm looking for a short entry on US500 at 6038, capitalising on any minor retrace within this downtrend. This aligns with the overall bearish momentum. Stop loss is set tight at 6072, just above the 6059.5 resistance.

Targeting Support

My take profit target is 5953, eyeing the strong 5950 support zone. This is an intraday play. Let it play out. Simple is best.