Prices are rallying strongly this morning. There was a break and a new high on the original tight channel, but it looks as though that channel might have folded over into a flatter two-tiered channel now. Respect that flatter channel until prices prove it is no longer in play. For now, the trend and bias are both up.

Mack’s 2000 Tick ES Price Action Chart for 08-29-2023.
Mack’s Daily Chart with the Envelope Bands/Strategy.

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