ES Morning Update December 14th 2021


Looks like we started the medium C wave down yesterday and it's continuing this morning, but short term charts should be oversold by the close today, so we could see a good bounce tomorrow.  They might do it in front of the FOMC, which too me would be another good short entry, or they do it after the meeting.  Either way I still think we go back down to the 4500 triple bottom area, which again so be broken on this coming hit to take us into the 4400's so they can run the stops on all the bulls.

This morning we could see a small bounce as they try to hold the light blue falling trendline of support but we are already through it now so any bounce at the open is likely short lived.  Overall I remain bearish here and will stay that way until 4500 is taken out.  Of course they will try to shake you out with crazy moves up, and the FOMC meeting tomorrow can be the event they blame it on.  But the end goal is still down first before any real bottom and true long lasting rally can start and hold.

Have a blessed day.

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