First Look: 2022-08-19

S&P 500 futures declined through the European morning to set a new swing low just after 6am today. This might be good enough for the end of the first major impulse down from August 16th high. First major hurdle to clear is at 3908.50 which would lead to a test of 3971.25. An earlier line in the sand is at 3887.25, not listed on the chart, and is being t…