US500 Bearish Momentum Continues: Targeting Key Support After Resistance Test

Market Overview & Trend Analysis

The US500 is currently trading around 6030.79, showing a -0.32% drop over the last 24 hours. The day range has been quite telling, oscillating between 6001.97 and 6059.61. My assessment of the overall trend remains firmly bearish. As I always say, "the trend is your friend," and the data is certainly compelling here. We're seeing consistent lower highs and lower lows on the higher timeframes, indicating sustained selling pressure. This isn't just a daily blip; it reflects broader market sentiment, likely influenced by ongoing inflation concerns and a cautious outlook from central banks. This fundamental backdrop reinforces the technical picture I'm observing.

Technical Levels & Trade Rationale

From a technical perspective, we're seeing key levels being tested. The market recently failed to sustain above the 6059.61 resistance, which was the day's high, and struggled to approach the next significant resistance at 6100. This suggests that sellers are stepping in at these higher prices. My analysis indicates a potential retest of this resistance zone before a further move down.
My trade setup for the US500 is a swing short position. I'm looking to enter at **6