SPX/USD Daily cautiously bearish. *Amidst slowing economic growth and rising inflation Janet Yellen, Ben Bernanke and various economic pundits are vocalizing their concerns for prolonged stagflation in the short to medium term -- this and weak economic data from China (primarily due to lockdowns) is fueling broader fears of the Federal Reserve potentially not being able to execute a 'soft landing' like JPow wishes.* Recommended ratio: 30% SPX, 70% cash. Price was rejected by the lower trendline of the descending channel from July 2021 and is currently forming a Bearish Engulfing Candle as it retests $3938 minor support. Volume remains moderately high and is fairly balance between buyers and sellers in recent sessions but has favored sellers in seven of the past ten sessions. Parabolic SAR flips bullish at $4109, this margin is neutral at the moment. RSI is currently retesting 38.06 support; if it breaks below, the next support is at 16.67 (which would coincide with the uptrend line from 02/27/22). Stochastic remains bullish and is trending down at 49.43, if it breaks below 44.62 it would be a bearish crossover. MACD remains bearish and is currently trending down at -106 after failing its third attempt at a bullish crossover; if it can break above -100 it would be a bullish crossover, but if it can't the next support is the ATL at -236.13 (Covid crash in March 2020). ADX is trending sideways at 27 as Price is currently being rejected, this is mildly bearish; if ADX can continue trending up as Price falls then it would be very bearish. If Price is able to defend minor support at $3938 then it will likely consolidate before retesting the lower trendline of the descending channel from July 2021 at ~$4000. However, if Price breaks down here, it will likely test $3706 minor support before potentially falling to $3508 minor support. Mental Stop Loss: (two consecutive closes above) $4000.