A few weeks ago we were looking at a bearish breakout in Zillow $Z. Price broke below a rising trendline and was threatening the April low.Zillow Breaks Trendline and Tests Support PivotZillow Daily Chart(click to enlarge)Bearish Correction:- When we look at the daily chart, we can see that the bullish trend has obviously ended.- It looks like we are in the middle of a bearish correction with more downside ahead.- We noted that if price held under the $50-$52 area, it would have downside towards the $37.50-$40 area. - This bearish correction scenario appears to be materializing, and we have a new potential resistance around $46.30 if price pulls back up first.