Prices are range bound again this morning and trading lower for the moment. There was an overhead gap at the 8:30 regular session opening that was not yet filled completely, so we may see prices continue to attempt to trade higher in an effort to fill that gap. Prices were very close to filling it early, but did not completely fill the gap, so that’s still a possibility.

As of now, I would call this a range with mixed trading, although that could change as the day progresses.

Mack’s 2000 Tick ES Chart for 05-15-2025.
Mack’s Daily Chart with the Envelope Bands/Strategy.

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