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Daily S&P 500 Market Analysis for Jan. 29, 2024

For Monday, the 4944.50 level can contain buying through Q2, below which 4772.00 remains a 2 - 3 week target, 4465.50 attainable by the end of Q2.

Downside Monday, 4839.50 can contain session weakness, while closing below 4839.50 indicates 4772.00 within several days where the market can bottom out through next week, once tested 4935.00 attainable again within several weeks.

A daily settlement below 4772.00 signals a good high Q1 high, 4465.50 then considered 2 - 3 month objective.

Upside Monday, closing above 4944.50 allows bullish continuation into later week, while a weekly settlement Friday at or above 4994.00 (1% above 4944.50) would indicate meaningful gains into later 2024.

Cheers to your trading success,

Anthony Speciale

Speciale Analysis

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