ES1! Monthly Butterfly E-mini S&P 500 Futures CME_MINI_DL:ES1! dionvuletich 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.