First Look: 2022-12-07
S&P 500 futures were soft in the early morning and pushed down to next support at 3916.00 before starting to rise around 7:30 Eastern. I’m treating that low as a possible ‘b’ type wave in the expected consolidation and thus trying to give the rise a little room to run. S&P futures are now up at the first resist for a lower degree fourth at 3957.25 but wouldn’t be shocked if they try to extend to 3978.25. Net, if long from early this morning, lock something in but might still be early to take a shot at a fade.