S&P 500 Nov 19 to Nov 23 Outlook

Recap
ES failed to push up beyond 25% prior week range early in the week signalling trouble to form a bottom. The break below Y-1 gave us a go for Y-2 which was tagged later in the week. Closed the week above Y-2 and below midpoint.

Outlook
As stated in NQ commentary, it is not a good week to trade heavily dur to Thanksgiving.

Provided that there is no news shock over the weekend, ES points to a drift back up to Y-1 first for a fight to form a longer term bottom.

Any news shock that is bearish will send ES down to next support zone at 1320 and below.