Trade Setup: Short-Sell S&P 500 Futures E-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:ES1! Lester_Davids I mentioned at the top of the week that there may be another opportunity to short/sell. I think we are close to it. US inflation data coming in higher than expected, sees USD rising. Also noted: U.S. FED FUNDS FUTURES PRICE IN 90% CHANCE OF RATE HIKE IN DEC 2022; 100% CHANCE IN JAN 2023. As per my research note (pre-market Monday 12/07): - As noted earlier during last week, the weakness we were expecting emerged during Thursday’s session with the index dropping 73 points (or -1.6%) from the intraday high, creating an opportunity for tactical short-sellers. - We quickly saw buyers step up, with strong bids off the lows at 4279 to carry the market to new highs of 4361 on Friday. - Traders should note that this high has note been confirmed by a new high in the RSI , suggesting the potential for another short-selling opportunity at some point this week. - Our new reference point is 4362, that being Friday’s high, which should hold for the momentum to be sustained. Trade levels: Sell S&P 500 E-mini Futures at current levels (4372) or conservatively, on a break below the prior day open of 4362 Stop-loss: 4410 Target range: 4315-4320