While prices have been trending lower for the past hour, things still appear to be range like. We will have to wait and see how prices react at the lows before we will know if this is to be a range day or if prices might continue to trend lower. Respect the overnight highs and lows until prices prove those price levels are no longer holding. Prices could still trend in either direction, but for now, this looks like it might be another mixed range day overall.
For the moment, the bias is still down, but that could change quickly and easily if this is a range or even if prices find support at the overnight lows. Watch to see what happens at the lows, as that will give us a better idea of how this day will go overall.
Mack’s 2000 Tick ES Chart for 05-28-2025.
Mack’s Daily Chart with the Envelope Bands/Strategy.