The trend and bias are up again so far this morning. There is a very large gap on the chart, so if prices were to start trending lower at some point, that target is 100 points lower at 5689.75. Prices have now succeeded at successfully retesting the highs on the daily chart, and they are also well into overbought territory now. A correction before the day is over is not out of the question. Stay with the uptrend as long as it remains in play but understand that a lot of targets have now been met that could lead to a correction now at any time.

Mack’s 2000 Tick ES Chart for 09-19-2024.
Mack’s Daily Chart with the Envelope Bands/Strategy.

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