The 1st 200dma Test Since June 2020. What's Next? Jan 21st & 24th Chart Update

As those following here for weeks are aware, 4420-30 has been my “ultimate downside target” in ES as labelled on my chart and today, we reached it finally. This zone is technically very significant for several reasons which I will discuss below and to me, what happens in this *very broad* zone tomorrow and early next week will inform whether we are starting a bear market type correction or not. Also worth noting: The 200dma has tested for first time since June 2020 (note, it was not a to the tick test, on ES the 200dma is currently 4422, and the low as of writing is 4429.50). It may clip or overthrow more precisely tomorrow (price loves to overthrow MA’s).