Mack’d Mid-Morning ES Price Action Chart 10-05-2023
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So far, we are not seeing any follow through buying this morning, so unless prices rally off the failed break lower around 9 AM CST, then we may not see a bounce or reversal. As of now, prices are mostly sideways to down. Respect the support around the lows along with the low of the range, and let prices prove they are going to trend even lower before getting too excited about further shorts for now.
Things could change as the day progresses, so be prepared for possible mixed trading or strong rallies, as the shorts can get nervous when the market is really oversold like it is currently. Until things change, the bias is sideways to slightly down.
