First Look: 2022-11-17
S&P 500 futures thrust lower overnight after a consolidation under 3984.50 to test a retrace at 3915.75. There has been some effort after the day session open to bounce from that retrace support. Best for bears that the bounce meets resistance at 3937.00 and they eventually make a new low for the day around 3904.00 or 3883.50.
If 3915.75 proves to be solid support, it encourages bulls to push past 3959.75 in an attempt to invalidate the creation of an impulse down and thus push higher yet again.