Do you trade US stocks? This is very important! The S&P 500 has broken below 7612, and it's unlikely to recover today, confirming a double top on the daily chart. Don't rush to buy the dip! Short-term focus: 7505, 7405. Mid-term focus: 7314, 7040. First, if it fails to recover 7612 today, then a mid-term correction is confirmed. Watch for potential rebounds at 7505 and 7405. Second, pay close attention to 7040. If it doesn't break below 7040, it remains within the technical correction range. 7040 is a technical limit; after the correction, it's highly likely to continue its bullish trend and reach new highs. If it breaks below 7040, it will enter a bear market.