Markets in trading range ~ markets are trading in a consolidating range going into the mid Dec CIT (change in trend). As shown on the Qs and ES charts, we now have filling the lower GAPs and potentially retesting the Nov low 700 +/-. Going into the Fed/OE week, we will likely see a bottom for the cycle turn to upside. This is a better scenario.
I think that we will likely have better volume going into the Fed/OE week before holidays.
Markets are still in the formations which I noted; so, we will look for a breakout from TL supports.
Formations: symmetrical triangle, ST inverse H&S, IT falling wedge The symmetrical triangle formations are not broken through yet even though 60m momentum is now falling. Breaking the lower support TL, markets will find supports at 800 (gap), 750 (Nov low), and 700 (next supports).
Good luck
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