Accelerating Losses Puts Uptrend Under ThreatE-mini S&P 500 FuturesCME_MINI_DL:ES1!FOREXcomTraders should be alert to the risk of an accelerated downside move in S&P 500 futures. After hitting record highs just two weeks ago, the price action has deteriorated rapidly with an initial break of minor uptrend support followed by sustained selling on rising volumes. The 50DMA has given way, as has the February 3 low, leaving the price teetering on the November 2023 uptrend. RSI (14) and MACD continue to trend lower, reinforcing a bearish bias. If the uptrend fails, bears may target a retest of 5808—a level that has been well-contested in recent months. That aligns with downtrend support extending from the December highs. Beyond that, the 200DMA looms as a key test for those eyeing a deeper pullback. Alternatively, a bounce from the uptrend would confirm it as support, creating a setup where longs could be established above with a stop beneath for protection. A move above 5935.5 would be an early bullish signal, with a break opening the door for a push towards 6000 and the 50DMA. Good luck! DS