Mack’s Mid-Morning ES Chart for 03-11-2025

Prices appear to be in both a range and a larger down channel at the same time for now. One of these patterns will win out at some point, so it is hard to know how the day will play out just yet. Things are still very volatile, so expect mixed trading at any point in time and certainly until prices start trending in one direction or the other consistently.

The overall bias is down as I am typing this up, but if this is to be a range day, expect that to flip back and forth at times. Prices also remain very oversold on the daily chart, so a rally is expected at some point, just wait on the price action to prove it out before getting too excited about any type of rally just yet. With prices currently pushing through the measured move level on the daily chart, a bounce at some time would not be out of the question. This market is very bearish at the moment though, so the selling could continue much longer than most would expect. Just follow the price action!