Mid-Morning ES Price Action Chart 03-22-2022
- Home / Non Member Articles (Free) / Mid-Morning ES Price Action Chart 03-22-2022
Obviously yesterday was not a top, as prices have surged higher again this morning. I see a spike and channel higher that is still in play as I am writing this up. For now, the trend and bias are up, so stay with that until prices show us otherwise.
Prices are obviously getting into overbought territory based on the daily chart reading, but that might not mean anything. If prices continue to push higher, more shorts will cover, and more new longs will come into the market. Maybe we will see a really strong rally off the lows that just formed on the daily chart that will continue to push higher.
The trend appears to be strengthening as I am typing, but be careful getting long into the very highs, as you could get trapped at the highs. Wait on corrections with a good set up, although this trend looks to be strengthening, and really strong trend days often provide only minor corrections that consist of a bar or two at most.
