First Look: 2022-11-18
S&P 500 futures advanced overnight to put pressure on resistance at 3984.50 before the open. At the open, selling came in to drop futures back down to 3959.75. The pattern is murky, not having a clear direction to my eye. Time spent above 3984.50 would be bullish and invite a tape of 4013.50 if not higher. Conversely, under 3959.75 leads to a test of 3937.00 or 3909.00.