$SPX - Key resistance and rejection with continuation short

Technical Analysis (TA)
We're getting first signs of a rejection off the weekly 50EMA (key resistance area with Momentum indicators being overbought.

The relief rally might be move and we might start seeing a retest of support level at $4k>

If the $4k level breaks we might see a continuation to recent lows at $3.6k or lower lows.

Be cautious out there on position sizing for individual stocks as the market could be done with it relief rally and it still looks very bearish.