SPX500 — Bearish Pressure After Powell Signals No Rate CutsUS SPX 500OANDA:SPX500USDSroshMayiSPX500 — Bearish Pressure After Powell Signals No Rate Cuts Markets remain under pressure after Jerome Powell signaled that inflation is still elevated, reducing the likelihood of near-term rate cuts — a negative signal for equities. Technical Outlook • The index remains under bearish momentum while trading below 6636. • As long as price holds below this level, downside targets stand at 6578 and 6509. • A 1H close below 6578 would confirm bearish continuation toward 6509. • A move above 6636 would shift momentum and open the upside toward 6706 and 6770. Pivot Line: 6636 Support: 6578 – 6508 Resistance: 6706 – 6770