Mack’s Mid-Morning ES Chart 03-09-2026

Prices dropped considerably at the Sunday evening opening of the overnight trading session leaving a large overhead gap on today’s chart. The gap down and the subsequent continue push lower have created a very oversold condition in the ES. Prices can stay oversold longer than you can feed a margin account, so never assume that it can’t still go lower yet. At some point it will probably rally strongly, but timing that can be difficult at best.

Prices did rally some off of those lows, but they have been working sideways to down since then. If prices are to fill the gap, that target is up at 6740.00. I have felt all along that the daily chart was hinting at further new lows, so this is not completely unexpected. As day traders, we just need movement, so it does not matter if that movement is up or down, but for longer term investments, this does not feel great and it may get a lot worse before it gets better again.

For now, the overall bias is mixed, but there is still a bearish overtone hanging over things, so keep that in mind.