A price action below 7100 supports a bearish trend direction.
Crossing above this level will negate the bearish stance.
A break below 6800 might target 6600.
A break above 7000 might signal the return of some strength.
Reconsider the position when the price action is at the 200-day, which might act as major support.
The S&P 500 have moved through periods of some weakness in a very strong uptrend. Currently we seem to be in another period of consolidation. Best to wait for a test of the longer term uptrend or wait for an upward break on the the weekly downward sloping resistance line.
