Mack’s Mid-Morning ES Price Action Chart 02-05-2024

Prices spent most of the overnight session and the early part of the regular session chopping sideways in a tight range, but prices broke lower and are now trending downwards. Prices are already trading lower than a measured move based on the width of the range, so this could turn into a larger downtrend day.

For now, the trend and bias are down, and prices are pushing lower, so stay with the downtrend until prices show us otherwise.