S&P 500 Jan 27 to Jan 31 Outlook

Recap
Opened near Y+1 and stalled. Y-0 found support, retested original resistance mentioned last week. Breached Y-0 and slided down to Y-1 then Y-2. Closed the week below Y-2 and at week low.

Outlook
First expansion move out of the compression range between 1820 to 1840. Such expansion move seldom ends immediately.

New low expected early in the week. Depending on how far ES bounces back up from the initial low by end of the week, we will find out if another leg lower is in store.