SPX500 Bearish Reversal Pattern – Cup & Handle BreakdownS&P 500SP:SPXPhoenixFX16SPX500 Bearish Reversal Pattern – Cup & Handle Breakdown 📉 Description: SPX500 formed a classic Cup & Handle structure, but instead of continuing higher, price failed to sustain bullish momentum and was rejected from the handle resistance zone. The descending channel that developed after the handle formation signaled weakening buyer strength, while the recent impulsive bearish candle confirmed a breakdown from the pattern. The rejection from the upper trendline, combined with the loss of key moving average support, suggests that sellers are regaining control of the market. The current price action indicates a shift in momentum, with downside liquidity becoming the primary objective. As long as price remains below the broken structure and channel resistance, the bearish outlook remains valid. Market participants should watch the 7,328 level as the first downside target, followed by 7,223 as the next major liquidity zone. Any pullback toward the broken support area may provide further confirmation of bearish continuation. Bias: Bearish 📉 Target 1: 7,328 Target 2: 7,223 Structure: Cup & Handle Failure + Channel Breakdown Outlook: Continued downside pressure while below resistance.