SPX is on the brink of a breakdown as bearish fundamentals

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SPX is on the brink of a breakdown as bearish fundamentals converge on critical support.  Trading Plan Short SPX  
Entry: 6,600  
SL: 6,650  
TP: 6,500  
TP: 6,400  
TP: 6,300  
The 200-day SMA at 6,604 is the make-or-break level for the S&P 500, and with the FOMC likely to extend USD strength while oil-driven stagflation fears escalate, equities are primed for a sharp decline. A break below this support confirms the bearish bias as the index heads for a third weekly loss.  
Trade SPX here

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SPX+0.02%

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SPX is on the brink of a breakdown as bearish fundamentals converge on critical support.