Bearish Outlook Intensifies for S&P 500

https://ganninsides.com/2025/01/17/prepare-for-turbulence-key-dates-risks/

On January 17th, I shared a post with my subscribers in which I discussed the market setup for Indian and U.S. markets. The overall plan was to stay on the short side on both markets. Specifically on the S&P 500, I pointed out January 24th as a price and time squaring date, which usually indicates a trend reversal. So, a turn was likely, and today’s decline further strengthens the bearish outlook going forward. Despite the S&P moving higher in the past week, I maintained the same outlook. I would expect that we likely have a double top breakdown from the 6100 zone. Let’s see if this view holds true; then we are likely headed towards 5600 in the next few weeks. “As I previously warned, bearish and precarious market conditions were evident in leading tech stocks like NVIDIA and Microsoft. I expect these conditions to deteriorate further.”

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