First Look: 2022-07-12

S&P 500 futures fell under the shallow retrace targets in the Asian Globex session last night and trended lower till into the European morning where they have attempted to hold a 50% retrace at 3834.25. Normally I’m not a big fan of that for a wave [II] target but it may work, especially if Euro tries to firm up against the bottom of the channel (see ch…