The video provides a technical analysis of the US stock market, focusing on the S&P 500, NASDAQ 100 E-mini Futures, Russell 2000, and Dow Jones Industrial Average. The analysis identifies bearish divergence on the daily time frame for the S&P 500 and NASDAQ. It anticipates a potential downward movement to fill gaps at 5676 on the S&P 500, and a worst-case scenario of filling a gap at 5336. The analysis suggests a possible backtest of the 200-day moving average. For NASDAQ, a Fibonacci retracement is applied, targeting 20834, with the possibility of further decline if that level breaks, the 200-day moving average is mentioned as possible target. For the Russell 2000, the analysis notes bearish divergence and potential decline to fill a gap between 1882 and 1918. The Dow Jones is also analyzed, noting equal high and backtesting of 200-day moving average, expects move down below the lows of May 23.