US500 Short: Bearish Momentum Continues, Targeting Fresh Lows

Market Overview

The US500 remains under pressure, trading at 6028.54 with a -0.35% drop over 24 hours. The trend is clearly bearish, and "the trend is your friend." Immediate resistance sits at 6060.73, holding strong. I'm seeing continued weakness and expect a push lower.

Trade Setup: Short US500

This is a clean setup for an intraday short. My entry is at 6036. Levels are clear: I'm placing my stop loss at 6075, just above the daily range high, protecting against a false breakout. My take profit target is aggressive, down at 5939. This aims for a break below the 5996.34 day low and the 5950 support zone.

The Play

With the current market sentiment and technicals aligning, I'm taking this trade. We've got bearish momentum and resistance holding. Always manage your risk, but the path of least resistance here is down. Let's see if we can catch that drop.