S&P 500 1H Update Price Accepting Below Support Zone

Here’s the 1H view 🔍

We can see a clear, aggressive selloff with strong bearish candles driving price straight into this area. Momentum remains heavy, with only minor pauses on the way down – no real signs of strength yet.

Price is currently reacting around the 0.618–1.0 extension area, showing slight hesitation, which is expected at support – but still no confirmed reversal.

Instead of a sharp bounce, price is grinding lower within a clean bearish channel, continuing to print lower highs while holding inside the zone – a sign of acceptance rather than rejection.

If this pressure continues and price breaks lower, the focus shifts toward the 6,141 weekly support. Below that, the higher timeframe opens the door toward the 5,600–5,800 region.

For any shift in bias, we’d need to see a break of the channel and a strong reclaim above 6,400.

Until then, momentum remains to the downside.