Mack’s Mid-Morning ES Price Action Chart 11-01-2024
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Prices are rallying so far this morning. The secondary blue channel looks to be valid, but it has never confirmed. If prices turn down off the highs, I will call it good, as it seems to fit the midline perfectly, so I am going with it until proven wrong. That means the trend and bias are both up for now.
If you look at the daily chart, prices did bounce and turn higher right off of the recent strong support level I drew. There is a large lower gap on the 2000 tick chart that prices might attempt to fill, but my guess is prices are working to fill the overhead gap on yesterday’s chart that was never filled. The overhead gap target would be 5845.25 and the lower gap target is down at 5738.50. We my meet one or the other or neither, but for now, the trend and bias are up.
