The trend and bias are up this morning. Prices went into a range for the first 45 minutes after the regular session opening, but they appear to be pushing higher again now. Prices could be setting up a newer and flatter channel, or they could be topping out. It is difficult to know for sure at this point, but for now, I would still call the bias upward.
There is a large gap on the chart that prices may attempt to fill before the day is over, and if prices start trending lower, that target would be down at 5183.25. I would expect some mixed sideways trading today no matter how the day plays out, so be prepared for that and stay flexible.
Mack’s 2000 Tick ES Chart for 03-18-2024.
Mack’s Daily Chart with the Envelope Bands/Strategy.
Comments
dsyoung March 18, 2024 at
Very low volume today it seems. Thanks mack!