We’re dealing with a sideways market as we head into Friday and 2022. We’ll lay out key areas to watch that will likely translate into the new year and determine when we break out of this chop fest.
The market ripped hard to start the week as the S&P 500 (ES) broke its previous high to create a new all-time high (ATH) at $4,784. We’ll be watching two levels to determine where the market could head next.
Until the ES reaches $4,800 or drops to $4,766, we will likely continue to chop.
If the ES breaks below $4,766, we could see a healthy pullback and retest the ATH. If it doesn’t break below $4,766, the market will likely continue to move sideways.
In today’s video, we’ll define inflection points and setups on our focused list as we head into the new year with a tight 2-hour squeeze and a developing 4-hour squeeze.
Stay Focused!