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#S&P 500 ANALYSIS The S&P 500 has broken down from a rising wedge pattern and is currently trading below the Ichimoku Cloud and the 100MA, both acting as resistance barriers and signaling bearish momentum. Further downward movement is possible from this level. However, a breakout above the 100MA could indicate a potential recovery. Notably, the S&P 500’s price action often aligns with cryptocurrency market trends, making it a crucial indicator of broader market sentiment.
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