We are right at daily support on /ES currently. If it holds here it might double bottom, if not I think it might fill that small gap around 4000 (since all gaps are filled 99% of the time).
With oil and wheat going parabolic, equities being stagnant, housing prices still out of control, and maybe some European bank failures incoming because of bad Russia debts, I'm getting serious 2008 vibes here. I just wonder what sort of defaults we're going to see across Europe and if people are going to start defaulting on mortgages here because it costs them $300 a week to fill up their gas tanks.
All of this spells trouble IMO, so also curious if Fed ends up pulling a 180.