Price has been making lower highs and lower lows since January 5, 2022 high with short but brief retracements upward. From my perspective, the market structure has shifted from bullish to bearish on the weekly and daily timeframes. My thesis is in line with my previous analysis on US30Y where I stated higher interest rates should put pressure on equities.
Below current price, I have outlined a few lows where I believe the price delivery algorithm will reach for to neutralize some sell side liquidity. Targets I am looking for price to reach into are: