Mack’s Mid-Morning ES Price Action Chart 08-26-2024

Prices are trending lower as I am making this report, but this has the look of a possible range type day as well. We will need to watch and see how prices respond once they test the overnight lows. If that price level holds, we could see a range type day or even a reversal. For now, the trend and bias are both down, but that will change back and forth if this turns out to be a range day.

Stay with the down trend until prices show us otherwise but respect the lows until we know how prices are going to react at that price level.