First Look: 2022-12-01
Quite the slip on the 10am numbers in S&P 500 futures but I would be wary of rejoicing overmuch if a bear until under 4047.50. Could there already be a tiny five waves up from the low yesterday for a completed wave v of (c) of [b] on the high this morning? Maybe if you count the overnight sideways move but I’m reluctant to count this complete till we see a four and five in the day session. Under 4047.50, the 38% retrace from the low yesterday, and I will more seriously consider that the high may already be set.