SPX trend analysis and fibonacci 0.786 zone(4h time frame)S&P 500SP_DLY:SPXicttrdrFirst off, we see a channel on the chart, and the price broke below this channel on August 18, 2026, which can be viewed as an indicator of a downtrend. At the same time, we observe a reaction from the 0.786 Fibonacci level (marked with a gray rectangle). I expect the price to retest this zone. If it breaks below the 0.786 Fib level, we could see an upward reaction from the 0.65 Fibonacci level, which previously acted as a peak and support zone that saw price reaction before. On the other hand, if it holds without breaking down and bounces back up, we can anticipate the price lingering around here as a brief breather after the strong rally between July 30, 2026, and August 4, 2026, followed by a continuation of the uptrend. ℹ️The Fibonacci retracement is drawn between the high and low of the past 90 days. ⭐️fibonacci ⭐️trend analysis -icttrdr