Mar. 30 at 2:04 PM
Market structure is getting messy into this week
All eyes on JPM collar flows + month/quarter-end repositioning from pensions & CTAs. Add in geopolitical headlines and you’ve got a classic “liquidity + volatility” cocktail.
The tape is telling me something important: rallies are likely being sold into. Any strength this week could simply be distribution before we see a lower high form into the weekend.
Key area to watch on
$ES:
6550–6600 = potential ceiling / lower-high zone
6620–6665 = heavy volume balance from last week (major supply zone)
If sellers step in again, that opens the door for a move back toward the 6280 area as a downside target.
This is not a clean trend environment — it’s a positioning-driven market. Trade the reactions, not the emotions.
