This is 4 hours /ES chart, quite self descriptive, multiple channels.
There is negative divergence on RSI, if “gold channel” breaks – target is around 1670sh, then, possibly, head and shoulder might be forming.
UPDATE NOON AUGUST 6th
Channel is changing – breaking “gold” ascending turning to “green” descending. Possibly continuing to build head and shoulder. Bounce to 1696 possible or higher.
YET ANOTHER UPDATE NOON AUGUST 9th – channels at work