The SPI 200 Index Futures daily chart currently reflects a shift in momentum, with both short-term and intermediate-term trends turning bearish as indicated by the swing pivot trend (DTrend) and the downward direction of the 5, 10, and 20-day moving averages. Price has recently moved below these short-term benchmarks, confirming a loss of upward momentum and a possible retracement phase. The most recent swing pivot is a low at 8715, with resistance levels overhead at 8849, 8921, and the recent high at 9018, suggesting that rallies may face selling pressure at these points. Support is clustered around 8715 and 8705, with a deeper level at 8400, which could act as a downside target if selling persists. Despite the short- and intermediate-term weakness, the longer-term trend remains bullish, as the 55, 100, and 200-day moving averages are still trending higher, indicating that the broader uptrend is intact. Volatility, as measured by ATR, is moderate, and volume remains steady, suggesting no extreme market stress. The market appears to be in a corrective phase within a larger uptrend, with the potential for further downside in the near term before longer-term support levels are tested. The overall environment is one of consolidation and pullback, with the potential for trend continuation if support holds and momentum returns.