Futures E-mini S&P 500
Short

ES1! Monthly Butterfly

23
Looks like a bearish butterfly is complete on ES,

Typical targets are usually between the A-C points or possibly extending down to around 2800 or so which would be a pretty large correction

Medium term fib cluster levels shown for possible short term bounce
If it really starts to fall and in all honesty I think looking at some of the FANG stocks that have such a large weighting on the indices and the JPY carry trades unwinding I think a deeper retracement is likely as there is a general sense of de-risking...

No trade for me but pretty clear example

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