Third time hit ! is it a correction ?

With two times unsuccessful attempts in the recent months, the S&P 500 was unable to form a bullish candle above 3000 resistance zone.
If the Fed rate cut and other fundamentals go against the stocks market a corrective wave is expected. the most important support line is the
.0236 Fibo retracement level from the deeps of Feb 2016 which is located at 2739 which is shown by a red think line. Others are 50 and 200-day moving averages.