the $spx chart shows a consolidation phase followed by a breakout, with a potential descending triangle pattern indicating bearish continuation. the market has been trending downward since mid-january, with resistance around 1.6 and support near 1.0. technical indicators like rsi and macd suggest bearish momentum, while the price is near the lower bollinger band. a swing trade setup could consider entry around 1.1 with targets at 1.25, 1.4, and 1.55, and a stop-loss below 1.0.