First Look: 2022-06-01

S&P 500 futures held up pretty well overnight. I have backed off the 4-5-4-5 count somewhat but think it likely that there is still one more move up before having to worry about a more intense retrace lower. Over 4174.25 should begin to open the way toward testing 4223.00 or 4237.25 tomorrow. While under 4174.25 there is still a chance that the bottom o…