Mack’s Mid-Morning ES Price Action Chart 10-25-2024

After bouncing off of the 21 EMA on the daily chart, prices are rallying nicely today. There is a large overhead gap, so prices may attempt to fill that gap at some point and if so, that target is way down at 5852.75. For now, the trend and bias are up, so stay with the uptrend as long as it remains in play.

Watch the secondary flatter blue channel, as it may be in play or one very similar to it. The one I drew looks valid, but it has not yet been confirmed, so just watch it and respect it if it gets a confirmation touch that holds. If it doesn’t hold, prices may correct or go sideways, but if it holds, the uptrend may continue further.

I hope everyone has a great weekend. See you next week!

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