S&P 500

On the 4 hour chart, we can see that from a risk management perspective, the sellers will have a much better risk to reward setup around the trendline where they will also find the confluence of the red 21 moving average and the 61.8% Fibonacci retracement level. The buyers, on the other hand, will want to see the price breaking higher to invalidate the bearish setup and position for a rally into a new all-time high