Technical Analysis and Outlook:
The S&P 500 Index, also known as Spooz, demonstrated a significant downward trend, as analysed in the Weekly Chart for July 19. It reached the anticipated Mean Support level at 5449 and Key Support at 5420. There is an expectation of a swift recovery after reaching these levels, propelling the price toward the designated Mean Resistance target at 5567. Nonetheless, the prevailing price action indicates a sustained primary decline toward the Key Sup 5350 and Inner Index Dip of 5345 in the forthcoming week/week's trading sessions. It is acknowledged that these achieved targets will exert pressure for a robust rebound.