Market Analysis for Aug 15th, 2022


Train riders conceded. Tight morning range so need to be mindful of getting trapped.

Banked only 4 ES points or $200 per contract and exerted too much effort for such a small payout. 

Evil scenario here is a consolidation takes place for a few hours around this 4270s/slowwwww grind.

P.S. sellers try not to stay wrong and short a dull market if 2-3 attempts and sellers cannot even flush VWAP...it is what it is.

Come back after lunch to see if there's another setup

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


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