TradingShot Maps Conditional S&P 500 Downside Level at 6,350

TradingShot has mapped 6,350 as a conditional downside level for the S&P 500. That would be about 16.2% below the index’s close of 7,580.07 on Friday, Oct. 30, when it fell 1.82% for the session.

The chart describes the index making higher price highs while weekly relative strength index (RSI) readings form lower highs. TradingShot says the pattern has been developing since May 26, 2026. The chartist wrote that “the probabilities of a new Bearish Leg have increased.”

TradingShot compares the current advance, which it measures at 62.21%, with gains of 76.71% and 119.34% in two earlier cycles. The chart also lists corrective declines of 21.14% and 27.42%. These figures are TradingShot’s calculations.

The 6,350 level aligns with the chart’s 0.5 Fibonacci retracement. TradingShot marks about 6,900, near the 100-week moving average, as a less severe possibility toward year-end if a similarly strong catalyst does not emerge.

Both levels are scenarios in TradingShot’s chart. The comparison with earlier cycles does not establish that the S&P 500 will repeat those declines, and the chart does not confirm that a correction will follow.