Mack’s Mid-Morning ES Price Action Chart 06-12-2024
- Home / Non Member Articles (Free) / Mack’s Mid-Morning ES Price Action Chart 06-12-2024
The market obviously liked the CPI news this morning, as it rallied strongly off that report, and is still creeping higher as I am typing this up. Do not forget that today is an FOMC announcement day. Be sure to be flat an hour prior to that report coming out at 1 PM CST.
For now, the trend and bias are both up. Many times, the market will go flat just prior to the FOMC report, but so far this morning, that is not the case. That could change at any time though, so be patient and pick your entries wisely. Until something changes, the trend and bias are both up for now.
Take note that I am guesstimating the upper trend channel line on the 2000 tick chart at this point in time. It may need some adjusting before it is all said and done, but that should be close to accurate.
