Mack’s Mid-Morning ES Price Action Chart 12-16-2024

If you have not yet rolled over to the March 2025 contract, I would do so today. Also, I will work a regular week through Wednesday this week but will then take off for the remainder of the year, so no more mid-morning charts or chart lessons after Wednesday.

At this point I plan to return to a normal schedule on Thursday January 2, 2025. With the 2nd falling on a Thursday, I may just wait until Monday, January 6th to return. It just depends on how that week is going and how eager I am to return. Usually, I am stir-crazy and read to get back to the office after the first, but we will see how it goes this year. 🙂 The markets are usually slow that first few days of January anyway, so we will just have to wait and see exactly which day I will return to a full schedule again.

Prices rallied during the overnight but have been mostly sideways with lower volume since the 8:30 AM CST opening. There is a gap on the chart due to the higher opening, so prices may attempt to fill that gap before anything else happens, so if prices do start trending lower, 6121.50 would be our first target to the downside.

For now, the trend and bias are up mildly to sideways, so trade accordingly.