US500: Bearing Down – Short Setup Confirmed

Market Outlook

US500 is clearly bearish. The trend is your friend, and it's pointing south. We're seeing repeated rejections around the 6061.99 resistance from the day range. Current price at 6026.03 confirms the weakness, struggling to hold any upward momentum. Broader economic sentiment continues to weigh heavy, creating sustained selling pressure.

The Trade

My view is a firm short. This looks like a textbook entry for a scalp trade. I'm hitting a short at 6035. Stop loss tight at 6078, just above that 6061.99 resistance. Take profit down at 5927, aiming for a retest of the 5950 and 5990.07 support levels and then some. Let it play out.