First Look: 2022-08-17

S&P 500 futures were weak in the European morning. I’m thinking there will be a mid-morning low against 4264.50 or 4257.50 and a bounce while waiting for the FOMC minutes this afternoon. Later today or tomorrow, will be alert for a lower high and turn back down to put stress on 4264.50. I wouldn’t be surprised if the wave iv is largely sideways but do p…