ES Morning Update August 2nd 2022

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Not much to say this morning as the market is just chopping around it seems. Again it could take awhile to reset the short term overbought charts, so this chop can continue all week if it wants too. This week and next week are supposed too be weak, but again it's not likely to be a big pullback. I still think we will go higher as I covered in detail yesterday, therefore I just don't see much to do until we complete the 5 waves up to finish the Medium Wave 1 and setup a good short into a likely bottom late September.

Have a blessed day.

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