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Writer's pictureAnthony Speciale

Wednesday: Jan. 31, 2024 - S&P 500 Market Analysis

Dear Trader,


Get ready for a mid-week market move! Our analysis points to a key range, and knowing how to navigate it can make all the difference.


Market Outlook for Wednesday: The 4940.00 - 4944.50 region is shaping up to be a crucial zone, acting as a potential stronghold against selling throughout the rest of the week. If breached, eyes should be on 5000.00, a target achievable within 2 - 3 days and capable of containing daily buying pressures upon testing.


Long-Term Projection: Look beyond the week – a weekly settlement at or above 4994.00 on Friday (1% above 4944.50) could set the stage for a climb to 5149.75 by the end of March, steadily rising, with an eye-popping anticipation of 5888.00 over the upcoming year of trading.


Caution Points: Conversely, slipping back below 4940.00 on Wednesday might indicate a robust weekly high. In this scenario, anticipate a dip to 4862.75 within 3 - 5 days and a further descent to 4787.25 within 2 - 3 weeks.


Be armed with insights for informed trading decisions. Remember, knowledge is power.



Wishing you many blessings,

Anthony Speciale


My goal is to motivate, educate, inspire and make a positive impact on your trading.  Whether you're brand new to trading, or you've been at it longer than I have - I invite you to experience the Speciale Analysis Family of Traders difference today!

 

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