Mack’s Mid-Morning ES Chart 03-06-2025

Today is more of the same. Early selling that finds a bottom and then rallies. Prices continue to be extremely oversold. It is time for a rally, but prices struggle to hold any rally for very long. That is a sign that people are liquidating stocks on the rallies. We have had a very bullish market for a long time now, so it’s no surprise that people are taking profits and liquidating holdings. At some point, that is going to dry up and a big pop will likely happen, even if it is just a temporary pop in a longer bear market.

As of this writing, prices are rallying, but that could be playing out as I am typing this up. Just expect more mixed trading and the possibility that more downward action could come today. Be ready for a rally if it continues, just do not get lost in any overzealous excitement, no matter the trending direction. Follow the price action and let it show you what it intends to do and go with it.