S&P 500 Jan 18 to Jan 22 Outlook

Recap
ES did not flush lower hence produced a bounce weaker than expected and failed to tag the pullback minimal target. News shock selling dropped ES lower again to another key technical level and induced a stronger bounce. Friday gap down completed the 100% range expansion off the initial upside attempt and stuck there. Closed the week below Y-1 and midpoint.

Outlook
B-1 support for B-0 test. Gap down below B-1 can easily induce a drop to B-2 / Y-3 first.