Mack’s Mid-Morning ES Price Action Chart 11-06-2024
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The markets seem to like the election results. The Republicans look to control everything now, as they have the presidency, senate and most likely the house too now. That should be good for the markets, but I guess we will see.
As of now, there is a mild correction going on after the huge overnight rally. There is a large gap on the chart that prices may attempt to fill as well, and if so, that target it down at 5822.25. As of this moment, prices appear to be pushing higher outside of the mild downward channel, so the rally could continue. Just follow prices and let them show you where they intend to go. For now, I would call the bias slightly down to mixed. The rally could start back up at any point though, so stay flexible.
