SPX Breaks Out of Head and Shoulders Pattern: $0.42 as Next Key Support Level?

The SPX 6900 index has broken out of a head and shoulders pattern, signaling a potential shift in market sentiment. This break triggered accelerated selling pressure, pushing the index below key support levels and leading to confirmed bearish momentum. The 1.272 Fibonacci extension predicts potential targets around $0.5064 and $0.4331, with $0.42 emerging as a key support level.