S&P 500 Daily Chart Analysis For Week of Jan 2, 2026S&P 500SP:SPXTradeSelecterTechnical Analysis and Outlook: During this abbreviated New Year's trading session, the S&P 500 Index is currently continuing to demonstrate an In Force Retracement sentiment. The Index has established a new Mean Support level at 6,833, and it is anticipated that it will persist in its downward trajectory towards the subsequent Mean Support level at 6,877. It is imperative to recognize that, given the conditions of the market, there exists a considerable probability of a Dead-Cat rebound. This rebound may prompt a retest of the completed Outer Index Rally at 6,945, via the Key Resistance identified at 6,932. Additionally, it is expected that the prevailing downward sentiment will remain or may even deepen, and intermediate bearish momentum is likely to persist, particularly as the above-named target levels realign with the anticipated market trajectory.