E-Mini S&P 500 Futures Pre-Market Breakdown for Wednesday March 24, 2021

Today’s E-Mini S&P 500 futures (CME: ES, MES) pre-market analysis.

Charts

Zones

Zones file

Trade ideas I am looking for today (not investment advice)

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Likely will be a challenging day today.

  • Long at initial key support only if weak selling into the zone off the open given the 3900s remain a large magnet.
  • If buyers fail to hold above the 3919s and we see clear rejection, that would be a short trigger for a push down below initial key support if selling remains strong.
  • Below initial key support, the day will likely be a challenge. likely the only good place to go long if selling becomes weak would be the 3885s zone for a push back above initial key support. If the market gets back above initial key support, that's a long as well for a push up to the 3926s and possibly initial key resistance, but we'd want to see momentous buying (ES strong and TICK sustained above 0).
  • If selling remains strong below initial key support, likely we will see wild chop there and possibly a push for the 3869s, so if we see a pop up into initial key support off the two zones below and buying does not look strong and the TICK is primarily showing balance, then look for a short at initial key support for push down to the 3875s.
  • Long at 3875s is only a good idea if we see weak selling into the zone.