Mack’s Mid-Morning ES Price Action Chart 12-09-2024
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Prices are trending lower this morning and once again, the volume and volatility are very low so far today. There are no news items to spark any sudden turns, so we could see mixed trading or even a reversal before it is over. For now, the trend and bias are both down, and that might continue today, but just be flexible and prepared if prices start trading sideways or even reverse and turn higher.
Prices are somewhat overbought, but there is room to go higher still, and this market has really wanted to go higher since the election, so do not rule out more upward movement at any point in time. Again, the trend and bias are down for now, so stay with that until prices show us otherwise. Just be ready if the market throws us a few curve balls.
