Mack’s Mid-Morning ES Chart 02-19-2025

Prices turned lower during the overnight session after reaching the overhead resistance at 6157.00 on the daily chart. If the resistance holds, we could see prices turn down again for a bit. At the moment, prices are sideways and in a tight range. There is an FOMC announcement today at 1 PM CST, so I would not take any further trades after 12 Noon CST, and I would be flat well before that news comes out. Once the news is announced, allow the volatility to calm down before taking any new trades.

As of now, I would call the bias flat to down, but that could change at any time, so follow the price action and watch the chart for the clues it will give you as to future direction.