The trend and bias are up this morning. There is strong resistance around 5700.00 – 5707.00, so watch that price level closely. Be careful getting long into that price level. There is also a large gap on the chart that prices may attempt to fill before the day is over. That target is down around 5667.50. As of now, it appears prices are working on a measured leg up, and that target is 5712.00. Be aware of the resistance around 5707.00 though. This could end up a range day or we may even see a reversal down at some point, but for now, the trend and bias are both up.

Mack’s 2000 Tick Chart for 07-15-2024.
Mack’s Daily Chart with the Envelope Bands/Strategy.

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