Mack’s Mid-Morning ES Price Action Chart 01-15-2025

Prices are rallying this morning and strongly thus far. If you look to the daily chart, you will see that prices are right at the down sloping trendline. Unless that trendline is going to give way, we may have capped out at the highs for the day. Prices could turn lower now but be patient and let the price action prove that out first. The key is how prices will react at the trendline on the daily chart, so watch that closely.

For now, the trend and bias are both up, just be mindful of the trendline on the daily chart.