SPX – Deep Correction or Opportunity for a Rebound?S&P 500SP:SPXParadise_NoirWhile the S&P 500 has seen impressive recoveries recently, current technical signals and macroeconomic factors indicate a high likelihood of a deep decline in the short term. From a macroeconomic perspective, rising bond yields and excessive optimism about tech stocks have contributed to a strong correction in the SPX. Additionally, concerns about the Fed not continuing to cut interest rates have increased caution in the market. From a technical analysis standpoint, SPX is currently facing strong resistance around 6,850. The chart shows that the index is trading near an upward trendline, but if it breaks the 6,600 support, SPX could continue to fall sharply to 6,550 in the medium term. Conclusion: With both technical and macroeconomic factors supporting a bearish trend, the likelihood of SPX continuing a sharp correction in the next 24-48 hours is very high. If the price fails to hold the 6,600 support, a deeper decline is a likely scenario. Recommendation: Monitor key support and resistance levels and consider opening a SELL position if the price confirms a break of these critical support zones.