ES Morning Update August 10th 2018

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No long post this morning gang. The market finally rolled over it seems. I don't know if it's going to stick or not but this 6 hour chart of the ES tells me it's got lots of room left to go lower if it chooses to do so? Usually the open is where we see the bounce back up as the "buy the dippers" come in on every pullback. Can't blame them as the 60 minute chart and the 2 hour chart are getting down into oversold territory... meaning a turn up is likely, but I don't think this is the bottom of the move. I do think we are just getting started and next week we'll see this down move continues. That's me keeping it simple and short. Today I turn 54 but still feel like I'm in my 30's... and certainly still act young. So you are only as old as you act and feel I guess. Since I'm short this pig this down move is a nice Happy Birthday gift to me. Have a great weekend everyone.