Mack’s Mid-Morning ES Chart 03-12-2026

Prices continue to push lower with a lot of mixed trading scattered in as well. I do see two measured legs down so far this morning, and prices are once again well into the oversold region of the Envelope Bands, so a correction could come at any time. Trade what you see, just be careful getting short late in any moves or into the overall lows, as that is where most traders normally get trapped on the wrong side of the market. Definitely do not try and pick the bottom of this market.

Note that there is a large overhead gap on the chart as well. If prices attempt to fill that gap today, that target is up at 6769.75. At the moment, prices are mostly mixed, with a downward bias. That downward bias could change as the day progresses though because even though there is bearish sentiment over the market at the moment, prices are oversold to some degree.