US500 4H: Correction Phase & Key Support LevelsS&P 500 IndexPURPLETRADING:US500LIVERMORE333US500: Watching the Retest ■ Current Status A 4H EMA dead cross was confirmed yesterday, with EMAs now turning downward, signaling a clear correction phase. The Aug 18 swing high at 7,746.74 currently stands as a strong resistance level. ■ Strategy The market is currently looking for a technical bounce after the sharp drop. While I expect a move toward the yellow circle (~7,700), a failure to reclaim this level likely leads to a drop toward key support at 7,624.47 (green line). If no bounce occurs tonight, watch for a potential overshoot toward 7,624.47 followed by a reversal attempt. ■ Conclusion Short-term bias remains bearish. I am targeting 7,624.47 for profit-taking on shorts. This green line is the critical "line in the sand" to maintain the long-term bullish structure. #US500 #SP500