SPY — Market Showing Clearer Bearish Intent State Street SPDR S&P 500 ETFBATS:SPYJP9X. After several weeks of consolidation, the market is finally showing clearer downside intent. Price is now trading below the 200 EMA, which shifts the overall tone and suggests increasing bearish pressure in the short to mid term. Key areas to watch: – Low 600s → Gap + Fibonacci confluence. First potential reaction zone. – 570 area → Clear imbalance. Likely to act as a magnet if weakness continues. – 480–520 → Larger liquidity zone. More extended scenario, but important on a macro level. The focus now is not just on downside targets, but on how price reacts at each level. Personally, I see this environment starting to create strong opportunities for portfolios that have remained more cash-heavy. As we’ve been saying for weeks — cash is king for now. The clearance section is getting closer to opening. Stay tuned. And don’t forget to follow for more market updates, ideas, and insights.