Mack’s Mid-Morning ES Price Action Chart 08-22-2024
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Prices turned down just after the regular session opening this morning and have now filled the gap that was left from the higher opening. Prices have not turned higher yet after filling the gap, but they appear to be trying to do just that. We will have to see if this is another range day or if we will get some kind of a correction maybe.
The market is very overbought, so a correction of some kind is coming at some point, but timing tops, particularly on a daily chart, is not an easy thing to do. Follow the price action and expect more mixed trading at times. Trade smartly so that that surprise moves do not catch you off guard. For now, prices are range bound and mixed.
