SPX Breaks Down: Tech Momentum Cools as Risk-Off Sentiment Build

The S&P 500 just broke below its short-term descending channel — confirming selling pressure is building. High-valuation tech and AI names like NVDA, MSFT, GOOGL, MU, and PLTR are leading the pullback as investors rotate out of crowded trades.

Macro headwinds — Fed uncertainty, stretched valuations, and global weakness — are weighing on sentiment. Near-term bias stays bearish unless SPX can reclaim 6,850.