S&P 500 Jun 08 to Jun 12 Outlook

Recap
ES struggled early part of the week to hold Y-1 and attempted to test Y+1. Yet it failed to hold above Y-0 as support. When Y-1 was tagged again, it induced selling down to Y-2. Closed the week below Y-1 and midpoint.

Outlook
Daily down trend is now established. Will this be a mild pullback on daily or something else depends on the reactions to Y-1 / B-0. If ES cannot even clear that zone, we are looking for more serious selloff in the making with target below B-2 and B-3.