S&P 500 DAILY Analysis 1/17/23

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For Tuesday, 3972.00 can contain selling into later week, above which the 4068.50 - 4086.00 region is likely over the next several days.

Upside today, 4019.00 can contain intraday buying, beyond which 4068.50 - 4086.00 is attainable intraday, a range of resistance able to contain weekly buying pressures, and a meaningful upside continuation point into February trade.

Downside Tuesday, breaking/opening below 3972.00 signals 3915.50, while closing below 3972.00 signals 3885.00 within several days, possibly retesting 3847.00 by Friday’s close, able to contain selling through next week and a meaningful downside continuation point into February trade.

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