#US500 4HUS SPX 500OANDA:SPX500USDmohamadvalizibayi#US500 4H The SPX has dropped with a very sharp bearish momentum, quickly reaching the purple zone and showing a clear bearish engulfing pattern. This is in strong contrast to the steep and aggressive upside move that preceded it. This kind of price action is concerning and may suggest that the correction could continue for now. Two possible scenarios: * Continued downside expansion * Mid-case: consolidation / ranging phase In a deeper correction scenario, price could even extend toward the blue zone around 7186, and if that level is broken, further downside cannot be ruled out. As expected, any correction in US equities can have a ripple effect across other markets such as gold and crypto. With today’s CPI release, we may also see increased liquidity and volatility in the market. Overall, conditions remain highly risk-sensitive. We will keep updating.