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Market Reaches Criticality for Bears 2/16/22

4690-97. That’s the critical zone on the ES S&P futures that the bears need to hold, or else lose the plot. If they hold, then we get a pullback to around 4445 and we’ll see from there which way they want to go.

But if they break 4490, then we’d be looking at 4525 pretty quickly. There, bears will have another opportunity to make a last stand.

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Of course, this is just for today.  For the bigger picture see

Beware! The Market Has Followed My Script

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