First Look: 2022-08-01

S&P 500 futures have been retracing overnight and this morning. Overall, I lean toward another swing high to complete wave [III] of iii of (c) of [b] against 4164.00. Support this morning at 4104.50 and 4087.50. A recovery of 4118.50 likely means the retrace is complete and on the way to 4164.00.

Bias to higher