4hr chart ... looks like a bearish flag break but on a Monday when you have really bearish starts like today the US often gobbles them up so shorts beware at this point.
Bigger picture weekly chart is turning bearish (although not as bad as EU indexes) back below the 1375 pivot is not good but we could find some support from the mid channel area. Solid support at 1340 then 1317.
On its way back to retest support 2420 area. Hourly chart is oversold now and monthly support at 2622 could stop the drop for today. 4 weeks red in a row in springtime is a little unusual too.
This is what I am watching for direction, support 2622
Support at the 5500 pivot but below that harmonic pattern & measured move target is 5281 again. 5660 a good level to sell again
Bearish harmonic pattern, a bear flag or has it gone too far? Only below 6440 pivot gets me really bearish & says 4450 to me