The equal-weighted S&P 500 ETF ($RSP) is currently experiencing a notable downturn, with reports indicating it has closed lower than its opening price for nine consecutive days. Analysts are closely monitoring the ETF as it approaches key technical levels, including the 50-day moving average. A potential tenth consecutive red candle is being discussed among traders, highlighting the ETF's recent performance trend. Observers are particularly interested in whether the ETF will rebound from the 50-day moving average, a level it has tested multiple times in recent weeks.