ES Morning Update December 2nd 2021

Well, we got the early rally but then it all fell to pieces. The high was just shy of a FP on the SPY I had at 464.88 but it didn’t quite make it there. Then the big flush happened into the close. So it’s looking like we are almost done on the downside. I think we’ll see closer to 4400 as I have a FP of 441.65 on the SPY that could be the low? So the lows aren’t in just yet in my opinion. Any bounces are still going to get sold until this final low is reached. Will this drag out into late next week is the question I can’t answer. It could end this Friday or even next Monday… very hard to tell. But we are close to a bottom that we can see a big rally up to new all time highs into the end of this year starting… one that should go over 4800 easily, probably 4900+ in a short period. It should be easier to trade then this correction as it’s been very hard to figure out… at least for me.  Good luck

Here’s some FP’s that could be hit…