First Look: 2021-12-22

S&P 500 futures have been largely sideways overnight. I’m open to just a bit higher today initially but think we are getting late in the formation of ‘A of (III)’ and due for a choppy B wave correction. Resist at 4651.25 and 4661.75. Initial support at 4630.00. Better support at 4615.25 and 4599.50.

A modest correction due