ES Morning Update August 6th 2018

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For some reason the chart isn't working properly this morning (it's not showing the data from Friday until now) so I'll keep this update short. Looks like we went up a little Sunday when the futures opened but are mostly flat right now. I am looking for a move down to start this week but it might be choppy at first with tricky moves back up to shake everyone out before a bigger drop. The Sunday night high appears to be 2841.50, which is 284.11 on the SPY.

Monday's are usually slow but if there's going to be a pullback I think it will start today and into Tuesday. The rest of the week could be choppy as the bulls and bears fight it out, but by Friday we should see another drop start. I'm not sure if they will breakdown through the 2800 level this week or not but I do see it as coming soon... like next week if it fails to do it this week. For today I'll be looking for 10-20 points down for the pullback to start. Since I don't have an updated chart this morning I'm going to end it here and will update in the free chatroom throughout the day. Hopefully they will get it fixed and we'll be back on schedule for tomorrow. Good luck.

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