S&P 500 Short-Term Bullish Attempt: Although today's CPI was slightly positive, the intraday pullback was on lower volume (lower than the previous day), and the bears cannot break through the previous low of 7,300. If it can continue to hold, a short-term push towards 7,600-7650 is possible. The EMA 20 at 7600 and the EMA 50 at 7640 are strong resistance levels. Failure to break above last Thursday's large bearish candle indicates a bearish outlook. Medium-Term: The market is currently in a topping pattern, forming a lower high after a low-volume rebound. Short-term traders can trade in waves, while long-term investors should patiently wait for lower, safer cyclical entry points.