Mack’s Mid-Morning ES Price Action Chart 05-12-2023

The trend and bias are down this morning so far. We have seen prices start off very bearish many times lately, only to see them find support and then rally just as strongly, so be prepared for anything to happen. As of this moment, the trend and bias are both down and prices are in a two-tiered down trend channel. Stay with that down trend as long as it is in play, but do not get lulled to sleep. Be prepared for sideways or even a possible strong reversal, as we have seen it happen often lately.

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