Mid Morning ES Price Action Chart 03-23-2020
- Home / Non Member Articles (Free) / Mid Morning ES Price Action Chart 03-23-2020
The craziness is back with a vengeance today. The markets gaped lower at the open last night and were quickly halted due to circuit breakers, only to rally strongly early this morning. I suspect we will see much more of this in the coming days.
The overall bearishness continues to hang over this market, so in no uncertain terms, the big picture is very bearish, but that does not mean we will not see incredible rallies at points in time such as what happened early this morning. Prices rallied almost 200 points over the course of an hour.
These markets offer some great trading opportunities, but with those opportunities come great risk as well, so please keep that in mind if you are still trading live. The increased margin is likely keeping a lot of the little guys on the sidelines, and that is probably a good thing in some ways, as it is just too dangerous to trade this market with a small account right now in my opinion.
Again, the big picture is very bearish, but understand that things can turn on a dime and you could see huge explosions to the upside or downside on a single news item, so trade wisely if trading live. Understand that if you are new to trading, this is not the time to dip your toes into the market with live trading.
