$S&P 500 Index (.SPX.US)$ For SP500, all moving averages below the 240 candlesticks on the 1-hour and shorter timeframes are in a bearish alignment, which is expected to extend to the 2, 3, and 4-hour timeframes within the next couple of days. The correction won't stop at the 60-day moving average; let's look directly at the support from the 120-day moving average around 4300 points. The cup breakout pattern has likely failed. This also aligns with the turbulent macro environment—data may appear strong, but under these high-interest conditions, it won't last long. Some landmines will likely explode before next year; whether they detonate in an orderly manner (e.g., March) or in a chaotic, uncontrollable way remains to be seen.