Mack’s Mid-Morning ES Chart 03-31-2025

Prices gapped lower, and after some sideways consolidation, they trended down even lower where it appears prices have found at least momentary support. There is a large gap on the chart, and if prices continue trending higher in an attempt to fill that gap, that target is up at 5602.50.

Note that this gap down on the daily chart gives us a new low after the recent break of the down trendline, so it is possible that prices are trying to find a longer term low on that chart. The gap down this morning puts the market into very oversold territory again, so if and when a rally comes, it could be a meaningful rally. I’m not saying that is coming today, but a rally could come at any time now, so just be aware of that fact and do not get caught short at the very lows of the day.

For now, the trend and bias are up, and another attempt to go higher is likely, although the downtrend could continue at any moment. Expect some mixed trading today no matter how the day plays out.