Mack’s Mid-Morning ES Chart 01-22-2026

Prices rallied and filled the upper gap that was created during the MLK holiday. However, that rally has now left a lower gap on the chart, and prices may need to fill that gap as well. That target is down at 6916.00. If prices start trending lower again, that would be a likely first target to the downside.

Note too that the rally this morning also pulled back and retested the midline and breakout area from the daily chart, so we could possibly see the highs for the day if that was the target overall to the upside. I would expect mixed trading today, no matter how the day plays out, but it also would not surprise me if prices attempt to fill the lower gap and continue to push lower on the daily chart into the lower Envelope bands.

For now, the trend and bias are mixed.