Mack’s Mid-Morning ES Price Action Chart 03-11-2024
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UPDATE 2: Correction, I was looking at March 2023, so was looking at last year’s rollover date. March 2024 rollover is today, so you should be trading the June contract now. If you were like me and traded the March contract, it doesn’t really make much difference, but if you have not done so yet, you should roll over to June 2024.
The trend and bias are both down this morning. The two-tiered light blue channel appears to be in play, so respect it until prices show us otherwise. There is a large overhead gap on the chart, so prices could attempt to fill that gap at some point today. That target is up at 5132.00. If prices start trending higher, that would be my first near term target. For now, the trend and bias are still down.
Comments
longhorn3 March 11, 2024 at
Rollover
Mack March 11, 2024 at
Official rollover is Wednesday, but the volume looks sufficient to start trading June if you like.
grogu March 11, 2024 at
The official rollover was today. According to CME “Equity products roll date is the Monday prior to the third Friday of the expiration month.” They have a calendar with the official dates: https://www.cmegroup.com/trading/equity-index/rolldates.html
Mack March 11, 2024 at
I just looked again and you are correct. I was looking at March 2023. Why they still have March 2023 listed I am not sure, but I was looking at the wrong year. I didn’t scroll down far enough. I almost did the same thing again and was about to ask you where you see today, but I see it now. My mistake!