Mack’s Mid-Morning ES Price Action Chart 11-09-2023
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The trend and bias turned down just after the regular session opening at 8:30 AM CST this morning. Coincidentally, prices turned down right off the down trend-line on the daily chart, so the rally could be ending. Let the price action prove that out first, but it is something to be aware of overall.
For now, the trend and bias are down, so stay with the trend as long as it remains in play. The larger two-tiered blue channel has not been confirmed yet, so it is just something I am watching for now. There are two measured legs down already, so make note of that as well.
