SPX500: Consecutive Lower Highs — Sellers Still Not Backing DownUS SP 500 CFDFOREXCOM:SPX500Marcus_lawsonThe S&P 500 is forming a fairly clear series of lower highs, suggesting selling pressure is still in control through each bounce. Price has just broken below the 7.443–7.460 support zone, further confirming the ongoing short-term downtrend. My plan is to sell if price makes a slight bounce up to retest the 7.440–7.460 zone (now acting as resistance), stop loss above 7.470, first target at 7.400 and a further target at 7.380 if the decline continues. The bad-case scenario is if price breaks above and closes firmly over 7.470 — in that case, this series of lower highs will be considered broken, and I'll stay on the sidelines waiting for a new structure rather than forcing a sell. This is just my personal take based on technical analysis. Wishing you successful trading.