*S&P 500 (ES) – Is the Downtrend Confirmed?*E-mini S&P 500 FuturesCME_MINI:ES1!ShaboS**S&P 500 (ES) – Is the Downtrend Confirmed?** The **E-mini S&P 500 (ES)** is showing an interesting technical structure. On **Thursday**, the **H1 timeframe** confirmed a bearish market structure. Price broke below Wednesday's swing low and then sold off aggressively, reinforcing the bearish momentum. By the end of the session, price closed just above the **July 8 low**, a level that could become highly relevant at the start of the new trading week. **My preferred scenario:** Price first sweeps below the July 8 low to collect **sell-side liquidity**. From there, a corrective move higher becomes possible, as the price range above remains relatively inefficient and offers room for a retracement. If that correction develops, it could provide an opportunity for the market to establish new sell positions before continuing lower in line with the broader bearish structure. That leaves two potential trading scenarios for Monday: 1️⃣ A **short-term long** following a sweep of the July 8 low and confirmation on the lower timeframes. 2️⃣ A **higher-probability short** after the corrective rally, targeting fresh lows in line with the prevailing H1 downtrend. As always, **these are scenarios—not predictions**. Monday's price action will reveal which path the market chooses. **Trade what the market confirms, not what you hope it will do.**