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