The S&P 500 (SPX) is experiencing a downtrend, with analysts noting a potential recession in 2025, assigning odds of 50% to this outcome. The index has struggled to maintain levels above its 200-day moving average, indicating market weakness. Various asset classes, including stocks, gold, silver, oil, and Bitcoin (BTC), are also under scrutiny, with concerns about market sentiment and volatility. Additionally, the bond market, the U.S. dollar, and international markets are being monitored closely as indicators of future performance. Recent market updates suggest that the SPX is accepting prices below Friday's close, further emphasizing the ongoing downtrend and the uncertainty surrounding economic conditions.