S&P 500 Jan 05 to Jan 09 Outlook

Recap
ES failed to clear Y+1 in the beginning of the week and started its pullback. The normal Y-1 and Y-2 target were tagged. Then news shock from Europe sent everyone into a spin. ES break down to 2x range target and found support. Closed the week below Y-2 and midpoint.

Outlook
As long as B-1 holds, a retest of B-0 and Y-1 is in play.