SP500 technical analysis for today December 16th 2021 using Elliott Wave Theory- The market exploded higher after the FED announcement. The “bad news” from the fed gives us a start on our wave 1 of 3. Once we complete that and get 2 down we have an excellent trade setup.

We are looking for a small pullback to 4680-70 and then a move higher to 4731 to complete wave 1 of 3. Then a pullback toward 4660 to give us a buying opp on the SP500

SP500 technical analysis using Elliott Wave Theory is telling us that if breaks below the .382 retrace at 4670 it’s likely we could fall fast toward 4577-4550 ES on the SP500