Prices appear to be range bound this morning. There is a small gap on the chart that prices look to be trying to fill, and that target is down at 5094.75. My best guess is that prices will at least attempt to fill that gap, and then anything can happen. Prices could continue lower, or even turn higher once again. For now, I would call this a range day, and that may be how the day plays out in the end, but if prices push outside of the overnight highs and lows, it is always possible a trend will establish itself.

Mack’s 2000 Tick Chart for 02-26-2024.
Mack’s Daily Chart with the Envelope Bands/Strategy.

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