Market Analysis for Jul 19th, 2022

Presume this trend day breakout sticks around into EOD, we're watching something like these 4hr patterns for next few days.

Immediate breakout into ES 3930-3950 then 4000-4015 gap fill then 4080. 

NQ breakout into 12460-12765

Step by step process because higher timeframe sellers could come defend levels at any time.

---Intraday charts a bit overbought now so gonna have to wait to see when on-trend train gives us another boarding call opportunity

Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.