Prices are rallying to new highs once again today. You simply cannot keep this market down. Things have gone flat over the last hour but do take note of the large gap lingering below. If prices attempt to fill that gap, we will get a large correction, as that target is down at 5018.50. For now, prices are stuck in a tight congestion area, but the overall bias is still up at this point, so we could see prices continue to trend higher at some point.

Mack’s 2000 Tick ES Chart for 02-22-2024.
Mack’s Daily Chart with the Envelope Bands/Strategy.

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