Market Analysis for Jul 19th, 2022

Jul 19, 2022 - 11:15 AM EDT

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.

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