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The market is at a critical inflection point as the S&P 500 completed a top by closing below 6700 last week. A morning rally has rebounded to trend channel lines. While some short-term indicators suggest a potential low forming by xxxx xxxx, the broader cycle data—including a strong sell signal on the Cycle Wave Composite—points toward an increasingly bearish long-term outlook.
Here are the support and resistance levels, cycle projections, conventional price targets, and indicators to watch to determine the direction of the next big move.