ES/SPX Morning Update Jan 27th

On Friday at 1:30 PM, ES broke below 6135, a key support level it had held for two weeks. Headlines fueled the move, leading to a gap down and a sharp sell-off. Initial targets at 6083 and 6070 were reached, with even more downside following.

As of now:
• 6016-20 must reclaim to trigger a short squeeze from buyers
• If 5982 fails, sellers can easily drop to 5966 and 5949 after that