First Look: 2022-08-19

S&P 500 futures took a turn lower in the Asian globex session last night and picked up speed during the European morning. Futures are short of my first target of 4233.00 hence have a minor preference for lower provided that resistance at 4260.50 to 4264.50 holds. Over 4264.50 would suggest that wave [A] is complete and now up in [B]. Could the wave iv b…