Mack’s Mid-Morning ES Price Action Chart 09-07-2023

Prices have continued to trend lower today but have found some support around the 4435.00 price level. Prices could be attempting another leg down, but we need to see if they can follow through and break through the support level successfully without failing. If prices continue lower, my first target would be a measured move down around 4421.00. If prices cannot breach that support level, then we are likely to see a range day or some sideways action for the remainder of the day. We might even see a bounce of some type.

For now, the trend and bias are both down, just be careful and do not get short right into the strong support level around 4435.00.