Mack’s Mid-Morning ES Chart 05-07-2025

Prices are mixed to slightly up this morning. Just remember, today is an FOMC announcement day and many are expecting a rate cut, so this could be a crazy news announcement that could send prices moving strongly in either or both directions, so be flat at least an hour prior to this announcement at 1 PM CST.

I believe that most of the upward movement the past week or so was the market building in a rate cut that most expect. If that cut does not come, this thing could really go crazy. Even with an announced cut, I expect there may be some fireworks, so just be wise and be out well in advance.

For now, prices are mildly up to mixed but that could change prior to the 1 PM CST announcement, so be disciplined and patient and wait on good setups that follow our rules and guidelines. I have a doctor’s appointment late morning, so will likely be out of the office at 1 PM CST, so hate I am going to miss it, but I would not be in a trade then anyway, so I can always look at the chart after the fact. 🙂