Technical Update - Corrections unfolding in Nasdaq and SP 500 but how deep and can it turn into bearish trends?

USNAS100 cfd levels. Minor support at the 0.382 retracement at 19,358. Strong support at around 18,900 where both the 0.618 retracement of the latest bullish move and the 0.382 retracement of the uptrend since mid-April are also placed.

A close above 20,083 and the bullish trend will resume

S&P 500 bullish trend seems to be stalling and a correction is unfolding. Question is how deep and will it turn into a downtrend.

Key support at around 5,340 but a dip down to 5,311 could be seen. 

Minor support at the 0.382 retracement at 5,385

For S&P500 to resume bullish trend a daily close above 5,506 is required. That scenario is not unlikely to plays out; RSI is still showing negative sentiment with no divergence indicating this is merely just a correction and S&P500 is likely to resume uptrend after a correction

A daily close below 5,310 is likely to add to the selling pressure pushing the Index down to around 5,258-5,191

RSI is moving within a rising channel pattern: A daily close below the lower rising trendline and the 60 threshold is an indication the Index is likely to test the key support at around 5,314

US500 levels: Minor support at 5,391 and 5,346. Strong support at 5,315. A daily close above 5,516 and the bullish trend will resume