Mack’s Mid-Morning ES Chart 01-16-2026

Prices are trending lower and look to still be trading inside the tight congestion area on the daily chart. The bias is down to somewhat mixed, but that does not mean we will not see some quick rallies with strong momentum at times. Some of the strongest moves up come when the market is selling off and very bearish, so do not forget that fact. If you do see a sudden rally, do not get fooled thinking the selling is over either. Let the chart prove it out first.

For now, stay with the downward momentum unless things change or this proves out to be a range day. Either way, we will probably see some mixed trading today.