Read the story here. Advertise at Before It's News here.
Profile image
By Red Dragon leo (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

ES Morning Update December 29th 2021

% of readers think this story is Fact. Add your two cents.

So far the futures are doing a whole lot of nothing. Just sideways chop, but this is an extremely light volume week so I guess that’s to be expected. Problem for the bears here is that sideways action will reset overbought charts and allow for another push higher next week… this is assuming this action continues the rest of this week, which is unclear right now.

The Seasonality Chart favors the bulls into the first half of January, so that’s another strike against the bears it seems. If this pattern is going to play out, meaning another drop to the 4400′s for what I call a Medium C wave in a Large Wave 4 “Wedge” correction, then it needs to start this week. Bears do not want this sideways action to continue as it will form a bull flag above support levels and setup a breakout next week.

This feels like an important football game right with the score tied and everyone in the stands on pins and needles rooting for the home team in the hopes that they get a first down soon, as otherwise they can blow it and lose the game. That “first down” for the bears is to kill this bull flag first off and break support, which is 4775, then 4745, and more importantly 4715. If they can get through that lowest level then they will have a great shot at the 4400′s in the next few weeks.

Otherwise they will be turning the ball back over the bulls again for another push higher. The bulls are masters of “holding the line” when charts are extremely overbought like they are now. That of course allows them time to reset for another run higher. I do not know what is going to happen here of course but I still think we have one more drop to 4400 before any big squeeze to 5000+ next year. I’ve been wrong before of course so don’t trade off of it. This month has been extremely hard to figure out and timing the exact date of a top and turn back down is even harder. Anyway, I don’t anything more to add here. The bears will either do it or fail. Have a blessed day.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.