Mack’s Mid-Morning ES Price Action Chart 08-02-24
- Home / Non Member Articles (Free) / Mack’s Mid-Morning ES Price Action Chart 08-02-24
Prices are rallying again this morning. Will we see them find resistance and turn down again though? It is very possible, as there are still a lot of unknowns with our politics, economy and war drums beating all around the world. It is a crazy time right now, and not just in the US. Things are on a slippery slope all around the world, so anything is possible. I still believe the path of least resistance is up at the moment, but that could change if any one issue were to explode at some point. If something happens unexpectedly, that could and might send the markets reeling lower again.
For now, the trend and bias are up and looking rather strong, so stay with the uptrend until the price action shows us otherwise. Expect mixed trading at times no matter the trend direction and try and keep tight safety stops where possible. Most importantly, never trade without safety stops and do NOT move them if you get it wrong out of the gate. Take your loss and live to fight another day.
