***3/3/2025 Daily ES Recap***
Market Context & Price Action
Today's session in S&P 500 E-mini Futures (ES) saw continued downward pressure as price tested major support levels, with buyers attempting to stabilize price action into the close.
Early Session Weakness: ES opened with selling pressure, quickly breaking below 5,900 and testing the critical 5,870-5,860 support zone.
Sellers controlled momentum, driving price toward 5,842-5,813, where a reaction was expected.
Midday Reversal Attempt: Buyers stepped in around the 5,813-5,809 weekly demand zone, leading to a short-lived bounce.
However, retests of 5,870-5,880 failed to hold, signaling weak buying conviction.
Afternoon Selloff & Close Near Lows: The late session saw another wave of selling pressure, briefly breaking below 5,860 before finding support.
Price stabilized near 5,870 but remains vulnerable to a deeper test of key lower supports.
Key Support & Resistance Levels
Support Levels:
5,870-5,860 – Holding for now, but any failure could send price toward 5,813-5,809 (Weekly Support).
5,813-5,809 – Major Weekly Demand Zone; critical for bulls to defend.
5,775-5,750 – Deeper support if the current demand fails.
Resistance Levels:
5,900-5,910 – First upside barrier for any recovery attempt.
5,950-5,970 – Major resistance and rejection zone from recent price action.
6,007-6,022 – Key upside breakout zone if price can reclaim lost ground.
Outlook for the Next Session
Bullish Scenario: If ES holds 5,870-5,860, a bounce could retest 5,900-5,910 and possibly extend toward 5,950-5,970.
Bearish Scenario: A breakdown below 5,860 could trigger a flush toward 5,813-5,809, with further downside risks if that level fails.
📌 Key Takeaway:
Today’s session showed continued selling pressure, with ES testing weekly demand levels near 5,813-5,809. Holding this zone is critical for bulls to stage a recovery, while a failure could lead to another leg down toward 5,775-5,750.
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