Mack’s Mid-Morning ES Chart 04-04-2025

It appears the selling is not over yet, as we are starting off with another huge selloff this morning. Prices are still trading within the overnight highs and lows, so maybe the lows will hold? Do not be surprised if they do not hold, but this market is massively oversold and when a rally comes, it will probably be fast and furious, so just be very careful selling the lows. Wait on sure things with good setups following the rules but definitely stay with the trend until we know the selling is over.

Prices could be working on a measured move down and if so, there is still a long way to go before we see a bottom today. A measured move down gives us a target down around 5100.00. That is 200 plus points lower, but prices dropped that much overnight, so it is always possible. We could also find support at the overnight lows and bounce or even chop sideways. Just follow the price action and be very careful shorting near the lows, and do not buy unless you get a confirmed trend working higher.

For now, the trend and bias are both down. Things are just so oversold that this could be a very dangerous market at the moment, so keep your stops tight and follow the rules. Do not take unnecessary risks and wait on solid setups.

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