Mack’s Mid-Morning ES Chart 02-03-2026

The trend has reversed today, turning down off of the long-term resistance on the daily chart. For now, I will call the bias down and down strongly. It looks as if there is an overshoot on the two-tiered channel I have drawn, but maybe the lows are much further down. It’s hard to know at the moment, but that will likely clear up with more price action printing to the chart.

Just be aware that we could have an overshoot, and if so, prices could reverse and turn up at some point. Regardless of where the lows of the channel reside, this is a strong sell off at the moment. Stay with the downtrend until the chart shows us otherwise.