applying the Elliott Wave theory - JSE charts at: jsecharts.blogspot.co.za/ - click image to enlarge
Tuesday, 11 December 2018
S&P Futures Index
The A-wave of the (C)-leg of the S&P futures 2-hour chart has apparently revealed itself by stomping on the lower channel boundary and assaulting the long term support in a display of temperament. This violence has generated a positive divergence.
The resulting (B)-wave is a zigzag. A bounce is expected to bring some relief for Christmas. Alas the (C)-wave of Primary  would appear to be incomplete.