Mack’s Mid-Morning ES Price Action Chart 10-31-2023
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Prices are mixed again this morning. Prices have tried to go higher but continue to find heavy selling up close to the 4200.00 price level. These century price levels are often very emotional areas that get tested multiple times from both sides before prices finally figure out a direction and move on, so this is normal really.
The bias is hard to call, maybe slightly down at the moment, but mostly mixed, so overall direction will change back and forth until prices find the path of least resistance. That could be in either direction right now, as prices have been oversold, but there is also a lot of negativity hanging over the market that could send it much lower even still.
Stay flexible and trade wisely and just sit on the sidelines when things are not easily decipherable. No trade is always better than a bad trade, so do not let your desire to trade interfere with wise trading decisions. Sit patiently and stay disciplined as long as it takes. That is the difference between mediocrity and success in this business.
Also, if you didn’t read my mid-morning comments yesterday, please go back and read those, as I shared some important information that might be pertinent to anyone trading live.
