Mack’s Mid-Morning ES Price Action Chart 12-12-2024

Prices opened lower this morning after trending down in the overnight session. That has left an overhead gap on the chart and prices appear to be pushing higher to fill that gap as I am typing up this report. That target is 6087.25. We will have to see where prices go after that, assuming they are successful in filling the gap. Prices rallied strongly off the morning lows, so we could end up seeing more upward price action in the end, but we could also see prices turn down and continue to selloff once they fill that gap.

For now, the trend and bias are up but depending on how prices react after attempting to fill the gap, that could change back to another down trend. I would expect some mixed trading as well, so be flexible and follow the prices action where it takes you. For now, the trend and bias are up.