FUNDAMENTALOVERVIEWThe S&P 500 brokethrough a key support on Friday and extended the losses into new lows astraders hedged into the weekend risk. Those hedges are being unwound todaygiven that nothing happened over the weekend. The focus remains solely onthe US-Iran negotiations and there’s some cautious optimism as Pakistan confirmed that negotiationsmay take place in Islamabad in the coming days and Trump said that they are performingextremely well andthey could make a deal pretty soon, although he added that they might fail aswell.The path of leastresistance remains to the downside until we get a resolution. Traders will keepa watchful eye on the headlines and especially on Trump’s Truth Social account,as we are always one post away from huge market moves. Trump's ceasefire expires on April 6, so there's a chance we get a deal before that as failure to reach one would increase substantially recession risks. S&P 500TECHNICAL ANALYSIS – DAILY TIMEFRAMEOnthe daily chart, we can see thatthe S&P 500 broke through the keysupport around the 6,525 level again on Friday and eventually extended thelosses into the 6,363 level before bouncing. From a risk managementperspective, the sellers will have a better risk to reward setup around thebroken support turned resistance to position for new lows. The buyers, on theother hand, will want to see the price breaking higher to extend the pullbackinto the major trendline.S&P 500TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOnthe 4 hour chart, we have aminor downward trendline defining the bearish momentum. The sellers will likelylean on the trendline with a defined risk above it to keep pushing into newlows, while the buyers will look for a break to extend the pullback into the6,525 resistance.S&P 500 TECHNICALANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, there’snot much we can add here as the sellers will look for a rejection around thetrendline, while the buyers will look for a break. The red lines define average daily range for today. UPCOMING CATALYSTSToday we have Fed Chair Powell speaking. Tomorrow, we get the US ConsumerConfidence and US Job Openings data. On Wednesday, we have the US ADP, the USRetail Sales and the US ISM Manufacturing PMI. On Thursday, we get the latestUS Jobless Claims figures. On Friday, we conclude the week with the US NFPreport. This article was written by Giuseppe Dellamotta at investinglive.com.