Mack’s Mid-Morning ES Price Action Chart 08-14-2024
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I am taking the remainder of the day off today for some personal business I must attend to today. Because of this I am posting the mid-morning chart a bit earlier, but also make note that there will probably not be a YouTube chart lesson today for this reason. If for some reason I am done early, I will still complete the lesson, but it is doubtful that will be the case. If you don’t see a lesson, you will know why it wasn’t there.
For now, prices are working lower, but they have found some support at the overnight lows, so we could see prices bounce and remain rangebound, or we could see prices trend higher again. If the support does not hold at the lows, we could see prices correct some today. If you look at the daily chart, prices do need to pullback and test the 21 EMA (the dark purple center band) on the Envelope bands, so a correction is not out of the question.
For now, the bias is down to mixed, and that could flip back and forth today if this is to be a range day. expect mixed trading at times, even if prices trend strongly before the day is over.
