S&P 500 Weekly Outlook – Breakdown Confirmed (March 29, 2026)S&P 500SP:SPXCryptocurrencyWatchGroupLooking at the weekly chart of the S&P 500, last week we made it clear: We needed a weekly close above 6,869.25 for the reversal to stay bullish. That didn’t happen. Instead, the market failed at that level and sold off hard, confirming the rejection and shifting the structure from a potential pullback into the early stages of a breakdown. What was a decision point is now starting to look like confirmation of weakness. Price has now moved directly into the 6,300–6,400 zone, which was our projected downside target. While this area may produce a short-term bounce, the overall structure is beginning to weaken as momentum clearly shifts lower. The focus now shifts to 6,141, which stands as the major weekly support. This level becomes critical — if it fails, the market likely accelerates to the downside, opening the door toward the 5,600–5,800 region, where the .618 Fibonacci and long-term trendline come into play. Could the market still recover? Yes - but the bar is now much higher. After a rejection like this, bulls would need to reclaim 6,869.25 to regain control and invalidate the breakdown. Until that happens, rallies are likely to be met with selling pressure. Bottom line: The market was given a chance to prove strength - and it failed. Now the question isn’t whether a pullback is happening… it’s how deep this move is going to go. Three weeks ago, we outlined the early stages of a potential major top. What we’re seeing now is that idea starting to play out. The real question now - will this develop into a full market crash?