Mack’s Mid-Morning ES Price Action Chart 08-29-2024
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Prices bounced off of the mid-line of the Envelope Bands on the daily chart and surged higher afterwards. I see a large spike and channel at the moment, and prices have rallied over 80 points from the overnight lows. For now, the trend and bias are up, so stay with the uptrend until prices show us otherwise. The current channel is not super strong, so you might take shorts on it if you get a really good setup, just be careful and smart with any shorts, because this is an uptrend, and it could strengthen at any point as well. Expect some possible mixed trading at times as well.
