First Look: 2022-05-12

S&P 500 futures have been under pressure overnight, but I continue to think that we are nearing an important low in the medium term, a few months, as opposed to just starting a crash lower. Watch support at 3899.00 and 3882.50 this morning as I’d like a low to be set before noon. If required, there is lower support at 3850.75 and 3822.75. Would be bulls…