ES Morning Update December 13th 2021

Last Friday did the typical “rally into the close” move and it continued into the Sunday night futures. This still looks like the medium B wave and once it completes (which should be soon, possibly today?) the medium C down should take us into the 4400′s… which could be by the end of this week. We have an FOMC meeting this Wednesday so we might not see too much action until it’s over with, not sure?

In the past few years the pattern for them were that they ended up being a “non-event”… meaning that basically there was all this anticipation for some big move afterwards but they all turned out to be dud’s.

Of course that doesn’t mean this time will be the same as one way or the other there’s a surprise (and fast) drop coming before this market races off to 5000+ into next year. Trying to nail the “when” part is not easy, but it’s coming as there’s still too many bulls in the market right now in my opinion. Time will tell.  Have a blessed day.