The price broke through the important short-term support levels 4160.0, 4116.0, 4074.0, which is a signal, if not for opening short medium-term and long-term positions, then for the temporary closing of long positions - for sure.
If the S&P 500 continues to decline, its closest target will be support level 3985.0 (lower line of the rising channel on the daily chart and March highs). In case of stabilization near this level, you can return to considering long positions. But for now, they should be abstained from.
If the growth resumes from the current levels, then the first signal for buying the S&P 500 will be a breakdown of the resistance level 4074.0 (see also "Fundamental Analysis and Recommendations")
Support levels: 4000.0, 3985.0, 3849.0, 3747.0, 3700.0
Resistance levels: 4074.0, 4116.0, 4160.0, 4238.0
Trading recommendations
Sell Stop 4030.0. Stop-Loss 4085.0. Targets 4000.0, 3985.0, 3849.0, 3747.0, 3700.0, 3600.0
Buy Stop 4085.0. Stop-Loss 4030.0. Targets 4116.0, 4160.0, 4238.0, 4300.0
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**) S&P 500: Current Fundamental Analysis and Market Expectations
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