Mack’s Mid-Morning ES Price Action Chart 08-19-2023
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Prices are mostly rangebound this morning. We have had a very strong rally over the past 8 trading days and prices are starting to become overbought. A correction or some sideways action is probably coming soon but knowing exactly when is the difficult part. For now, we are looking at mixed trading and range type action, but that could change as the day progresses. There is still a slight upward bias if for no other reason than prices have rallied for 8 straight days.
Stay with the price action and let it show you where it plans to go. Expect periods of mixed trading no matter how the day works out. Respect the overnight highs and lows until prices prove those levels are no longer holding. As long as prices remain inside those levels, treat this as a range day.
Comments
chrispy August 19, 2024 at
Mack,
Not sure why but I have not gotten the mid day chart for the past couple of days.
Thanks
Chris