First Look: 2022-12-15
Starting the day with continuation lower overnight in S&P 500 futures that bled over into the morning of the day session. While there is a small bounce that is taking place post 10am, I have a mild bias towards another low while under 3952.75 to push for 3925.75 or 3920.00. The theme I’m working with is to get a five wave decline down from the pre-FOMC bounce high from yesterday. I’m penciling in the decline thus far as [I]-[II]-working on [III].