SNBR - Primary Trend Down But Short-Term Bounces Are TemptingSleep Number CorporationBATS:SNBRPeakInvestmentStrategiesThe chart for SNBR is clearly in a long-term downtrend, with lower highs from late 2024 to early 2026. Lower lows continue to progressively step down. The blue 60-day cycle indicator has been declining and flattening, suggesting weak cyclical momentum, not a reversal. Price is now sitting right on a major support band (~$3.00–$3.50). This level has been tested multiple times in the past. Previously, this area has acted as a cycle buy zone; however, based on current price action (sharp rejection from ~$12 region) the short-term trend remains down. The orange cycle floor has been stepping down over time: ~$9 to ~$6 to now ~$3. With that said, price is now touching the lowest cycle support ever on the chart. The system is still signaling “Buy”, but each bounce has been weaker than the last. This indicates diminishing demand overall. RSI is currently sitting at ~34 and falling. Having recently rejected near ~60, there is no bullish divergence visible. Momentum is rolling over, not stabilizing. This action is typically consistent with a continuation or breakdown. Going forward, if we were to see ~$3 hold as support and a potential "Buy" signal triggered, we would ultimately like to see ~$5–$6 reclaimed. The bottom line is that this is not a confirmed bottom; instead, it is an area of support being tested inside of a downtrend. The repeated “Buy" signals are getting weaker. This is classic late-cycle behavior. While the potential for a significant ~3-4X short-term bounce remains, downside pressure remains present.