Mack’s Mid-Morning ES Chart 08-22-2025

Prices are rallying strongly this morning. Not sure if Powell said something the markets liked or not, but the rally zoomed higher just at 9 AM CST when he was scheduled to speak. The market will usually take back a news move like that within the hour, so do not be surprised if prices turn lower for a bit. I would call the bias up still for now, but that could be changing. Follow the price action and let it show you where it plans to go.