Mid-Morning ES Price Action Chart 03-30-2022
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This looks to be a range day so far. The volume and volatility have slowed quite a bit today so far, so maybe that means things will quieten down for a bit? There is still a lot of negativities hanging over the market, so just keep that in mind a be prepared that things could change in a blink.
If today continues as things have gone over the last few days, we could see prices test for support and if prices do find strong support, then generally rally off of that price point. At some point, that will not happen, and prices will go lower though, so do not get lulled to sleep thinking that pattern will continue forever. As long as it is in play, pay attention to it, but it will change and that is when most get caught off guard and fooled.
As of now, the bias is sideways to slightly down, but that could flip flop to up and down as the day continues if this is indeed going to be a range day. Again, watch for the pattern of finding strong support and then rallying, but just do not get fooled by doing so.
