SPX500 Breakdown Warning: Major Supports— Bigger Crash Ahead?US SPX 500OANDA:SPX500USDpejman_zwinThe S&P 500 index(SPX) has become increasingly significant recently, and it has a notable impact on cryptocurrency markets, especially Bitcoin(BTCUSDT). Therefore, analyzing the S&P 500 not only benefits its own market but also enhances our understanding of related markets. Fundamental Analysis: Volume confirms distribution, while the ongoing U.S. government shutdown delays critical data (CPI, PPI), fueling uncertainty and risk-off sentiment. Fed’s hawkish pause on rate cuts and tech sector rotation (TSLA -6%(TSLA), NVDA -3.5%(NVDA)) reinforce bearish momentum. Also, YTD performance now -3.2% in November — on pace for the worst monthly drop since 2008 (-7.5% Technical Analysis: From a technical perspective, the S&P 500 index is breaking the Support zone($6,773_$6,710) and moving near the Support lines and 50_SMA(Daily). Given recent data, there’s a possibility that these supports may break. Additionally, according to Elliott Wave Theory, we can expect more corrective waves ahead. I expect the SPX500 index to decline to$6,633 after the support cluster is broken in the first step. First Target: $6,633 Second Target: $6,583 Stop Los(SL): $6,815 Please respect each other's ideas and express them politely if you agree or disagree. S&P 500 Index Analyze (SPX500USD), 4-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.