Mack’s Mid-Morning ES Chart 10-20-2025

Prices are trending lower this morning, which is not unexpected. I would expect prices to at least pull back and test the mid-line of the large channel on the daily chart. We could see prices push deeper than that, but that would be my guess at the first target to the downside.

There is possibly a larger two-tiered channel working lower on the 2000 Tick Chart (Green Channel). Watch that channel closely and respect it until prices are no longer affected by it. I would expect some mixed trading as well no matter which way prices go in the end. For now, the trend and bias are both down.