Mack’s Mid-Morning ES Price Action chart 06-24-2024

Prices rallied strongly just after the regular session opening but have now corrected somewhat and are trending lower. No matter how this day plays out, I would expect some mixed trading. Prices are overdue for a bit of a correction, but that does not mean it will come today, and prices could continue to push higher before the day is over.

For now, the bigger picture and bias are both still slightly up, but that might be changing as I am typing this up. It’s difficult to know if this is a just a correction in an uptrend or a reversal off the highs. Just follow the price action and let it show you where it wants to go and do not get surprised by mixed trading, as prices can reverse quickly and trend in the opposite direction very quickly and very strongly.

Any time you are unsure of what prices are doing or not certain about where they are headed, the correct answer is to sit tight and wait and do nothing, as no trade is better than a losing trade.

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