A choppy day yesterday as the market is carving out the wave 4 bounce and wave 5 down to complete the C wave. We might see a little more chop for a few days but the down move should be finishing up here soon and then we'll see the Santa Rally that should take the SPX back up to a slightly higher high before the end of the year. Today is Friday and typically there's a late day move up, but might not see it do the biggest squeeze until after Christmas, hard to say for sure. Possibly we see some kind of series of wave 1's up and 2's down play out in the next few days to setup the wave 3 up after Christmas, which will be inside a bigger wave 5 of course. I'll start charting the March Contract of the ES next week as the December one is over with now.
Have a great weekend.
