S&P 500 Breakdown: Next Downside Targets to Watch

Follow along with Dave Keller as he breaks down the recent S&P 500 decline. The index has decisively fallen below key support levels, including the 200-day moving average, confirming a shift into a bearish trend phase. He explains how momentum has transitioned from neutral to bearish, using RSI behavior and trend models to assess the strength of the downtrend. Dave then maps out potential downside targets using Fibonacci retracements, highlighting a key support zone around 6150–6200. He also reviews volume and breadth indicators, including Chaikin Money Flow, the McClellan Oscillator, percent of stocks above the 50-day moving average, and the Nasdaq 100 bullish percent index, to identify conditions that could signal a short-term bounce within a broader distribution phase.

This video premiered on March 30, 2026. Watch on StockCharts' dedicated David Keller page!

Previously recorded videos from Dave are available at this link.