S&P500 slips below key support with bears leading, Callum Thomas notes

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30.03.2026

S&P500 slips below key support with bears leading, Callum Thomas notes — S&P500 breaks support, bounce risk grows

Investor and analyst Callum Thomas highlighted several important themes from this week’s market charts. He observed that the S&P500 has broken a key support level, putting bears in control of market direction.

Thomas also pointed to increased implied correlations and leveraged ETF trading activity, which may signal a higher chance of a potential market bounce. However, his review of longer-term market cycle indicators suggests that there is still a risk of a sustained bear market.

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Thomas recently announced an upcoming weekly S&P 500 ChartStorm update and suggested a review of the previous edition. In an earlier note, he examined S&P 500 technicals and discussed valuation dynamics for software and energy stocks in a prior update. These updates form part of his ongoing market commentary.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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