Mack’s Mid-Morning ES Chart 03-23-2026

Prices rallied an incredible 250 points in early morning overnight trading in an impressive move higher. This is what I talked about in a previous mid-morning chart update. You can see massive rallies like this in bear markets, so you need to be aware of them and what can quickly happen if you are not paying attention. While we relieved some of the oversold conditions, the market has backed off of the highs considerably at this point.

While it doesn’t really matter why the market moved like this, the catalyst appears to be the fact that Trump says he will halt any further bombing of energy infrastructure in Iran. With the cost of fuel already skyrocketing, any chance of reducing further destruction of oil production is a welcome relief. We will have to see how long this sticks, but for now, the rally out of oversold conditions was impressive to say the least. We can only wait and watch to see what prices will do from here.

While there is still a bit of a bullish slant to the market this morning, for now prices are mostly mixed while mildly trending higher. I don’t know if we could see an attempt at a second leg up or not, as that seems almost impossible, but if I had told you the market was going to rally 250 points in less than 15 minutes in early-market trading, you would have called me crazy, but that is exactly what transpired this morning. 250 points in less than 15 minutes.

The rally did fill two overhead gaps on the chart that were left from Thursday and Friday’s trading last week. There is currently a lower gap on today’s chart, and if prices attempt to fill that, that target is down at 6588.50. For now, prices are creeping higher, so just trade wisely. Follow the price action and keep your safety stops tight as we teach you, by always placing them one tick above/below the signal bar when you enter.