After breaking the 200DMA We have to be cautious as I mentioned. We then now confirmed a weekly EMA breakdown as well. There is no reason to be bullish here. We have political overhang and an active war combined with high oil prices. I wrote a whole article about high oil prices on markets in the short or long term. Link to oil article: x.com/MulderSonny/st… It is very likely SPX is now in a drawdown going to the 6100 area. It will result in a +- 10-15% correction. This is not the bigger sized correction that I anticipate but rather a short term correction driven by Iran war uncertainty (caused by Trump once more). Look at it like the tarrif problematics. Seemed big short term but eventually recovered fast. I still believe going into mid year that we will see new all time highs before midterm elections and a potential bigger correction around that period as well (perhaps in Q4 as a guidance). Below you can see how often we get 10-15% corrections and those come every 2,5 years on average. Remember that I scaled in 30% equities around April 2025? I added roughly 15% or so later on around Aug of last year and after this correction is done, I will likely scale in more, finally! What I expect after this clears up is higher prices still being on the table (unless Trump does what he does and escalates further) and followed by that around midterms I do expect some more turmoil. Reason being is employment is deteriating, AI capex is having overhang, the war on iran and high oil prices drive inflation and the FED may not be as accomodative as people expect because Powel could remain in force for longer (Lisa cook/lawsuit).