S&P 500 FuturesE-mini S&P 500 FuturesCME_MINI_DL:ES1!TJ-001The S&P 500 index future has shown a rather significant decline over the past month. As we expected, the seasonal factor played out. However, more importantly, the benchmark broke through a major support level of $6,550, which had held it since October of last year. This opens the path for the index to reach the $6,250 level. In light of the above, we are placing our outlook on the index under review with a potential revision to negative. Long-term trend: Under review Resistance level: 7000 Support level: 6250