Weekly Macro S&P 500 Analysis

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The 4270.00 level can contain selling through Q1, above which 4634.50 remains a 3 - 5 week target, 4864.25 likely over the next 3 - 5 months.

Upside, 4634.50 can contain weekly buying pressures, while closing above 4634.50 indicates the targeted 4864.25 by the end of February where the market can top out into Q2.

Downside, a settlement below 4270.00 signals 4113.50 within 2 - 3 weeks, secondary long- term support able to contain selling into later in 2024 and above which a longer-term bullish dynamic remains in effect over that time horizon.

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