Prices still have a mild upward bias so far this morning, but this might end up as a range or even reverse into a downtrend. Watch the highs of the overnight as that should tell the tale. If prices cannot successfully breach that resistance level, then that is not a good sign. If price can push on through and trend higher, afterwards, we may very well see more upward movement today. What for mixed trading at times no matter how it plays out.
Note that we are getting close to a measured move on the daily chart as well (Target is 5841.50). My best guess is that prices are attempting a measured move at a minimum, but whether than can accomplish that task is a different story. Follow the price action and let it show you where it wants to go. For the moment, that is still up.
Mack’s 2000 Tick ES Chart for 03-25-2025.
Mack’s Daily Chart with the Envelope Bands/Strategy.