Factset Bearish View

Context:

The chart highlights a Smart Money Distribution phase around Dec 2021, where institutions sold heavily near the $480–$500 zone.

Each time price reached this zone during Nov–Dec in consecutive years, it faced institutional selling pressure.

🧠 Market Structure & Analysis:

Multiple Equal Highs (EQH) and Breaks of Structure (BOS) confirm distribution and shift from bullish to bearish trend.

A major Change of Character (CHoCH) occurred, signaling a trend reversal.

The chart shows a clear downtrend with consecutive lower highs and lower lows.

📉 Trade Setup:

Entry Zone: Around $450 after the CHoCH and BOS confirmation.

Distribution Zone (Institutional Sell Zone): $460–$500 range (highlighted red box).

Targets:

🎯 Target 1: $340.33 (hit)

🎯 Target 2: $308.59 (hit)

🎯 Target 3: $257.23 (approaching support)

🎯 Target 4: $205.87 (final target – marked by the large blue arrow)**

⚠️ Key Notes:

Current price (~$287) is near Target 3 zone, a potential temporary support area.

If liquidity breaks below $257, momentum could extend to $205–$210 (major demand zone from 2020).

Volume analysis suggests smart money continues offloading positions; little evidence of accumulation yet.

🧭 Bias:

Primary Bias: Bearish

Short-term Outlook: Potential small bounce from $257–$287 zone.