Mack’s Mid-Morning ES Chart 05-06-2026
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Prices are rallying again this morning. This market just wants to go higher. Even with all of the negativity of the Iran crisis, this thing just keeps going up. It’s possible prices will attempt a measured move, although the current trend channel working higher does not look like it would allow that type of move for the day. That doesn’t mean prices cannot or will not meet a target, as things can change quickly on a chart. I cannot even be certain that my guesstimate of the upper side of the trend channel is correct, so do not rule out prices heading higher to meet our target.
There is another gap up on the chart this morning as well, so if prices do start trending lower at some point, the target to fill that gap is down at 7295.50. At the moment, the trend and bias are both up, so stay with that until the chart shows us otherwise.
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Comments
RMS May 6, 2026 at
Thank you. I really appreciate everything you do for us.