E-Mini S&P 500 Futures Detailed Review for Wednesday March 24, 2021

Today’s E-Mini S&P 500 futures (CME: ES, MES) detailed review.

Charts

Notes

  • We saw rejection above the 3919s. That was a planned short. Selling was strong off there for a test of initial key support. The target became the 3900s.
  • All of a sudden sellers dried up and buyers forced price up and the market balanced around the 3926s area (yday's VPOC area).
  • Sellers then pushed back below the 3919s and I was interested again in shorting this. The target again was the 3900s. There was a small bounce, then a push down again. Then there was an instant surge in buying and ultimately price went back up to my entry.
  • Where I got stopped, that was another good area to enter short, so you could easily have taken that, but I did not get a fill by the time I saw it.
  • Sellers pushed price down to the 3900s and volatility was injected into the market as can be clearly seen by the wild TICK. At this point it's nearing EOD and there's nothing left to do as the close is often random.