S&P 500 Dec 17 to Dec 21 Outlook

Recap
Got the wild swings mentioned last week. Violent breakout to the upside and tagged the Y+2 tagged. Once the upside objective is reached, ES started to free fall straight back down to Y-0. Closed below Y-0 and near week low.

Outlook
Many people ignored the fact that we have huge compression around the 1400 to 1420 area. It is not that easy to get a clean breakout from the zone on first try.

As 1400 and below was clearly rejected not that long ago, it is a strong support zone to watch out for if ES gets there. Rally from there that quickly moving above Y-0 / B-1 area points to a run back up to at least Y+1 / B-0.

Once end of year low volume drift kicks in, the bulls will have an edge over the bears.