S&P 500: Breaking In Slow Motion (Technical Analysis)

The S&P 500 recently broke support near 7420 and moved to new monthly lows, signaling a subtle bearish shift and increasing the likelihood of a near-term retrace. This is part of a slow topping process that may have entered its next stage. Current market dynamics mirror Q1, with choppy declines, strong bounces, and headline-driven volatility, especially from Middle East tensions. I maintain a bias for lower in the near term, preferring to add long-term positions below 7000.

The S&P500 ( SPY ) has been stuck in a range since the 2nd June top. Some will say it's healthy bullish consolidation and will break higher; others, like me, have been calling lower. It's a tough decision as the signals