Mack’s Mid-Morning ES Price Action Chart 06-20-2024

Prices continued to rally early on during the overnight session but turned down at some point and now appear to be working on a second measured leg down. Prices are testing the overnight lows as I am typing this up, so we will have to see if that price level can hold for now or if prices may push lower still.

For now, the bias and trend are down, but that doesn’t mean that this is not a range day or even that prices will not trend higher still at some point in time today. Stay with the downtrend until prices prove it is over but respect the lows and don’t get caught going short right into them or trying to get long by attempting to pick a bottom.

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