Stock Market Analysis - March 11, 2021 E-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:ES1! TGC_Trade Futures are poised to breakout of the current downtrend. After yesterday's close, the idea was to have a rejection overnight which did not happen. Today, we will be watching how the market reacts. It is a critical day because it will either prove to be a fakeout or breakout. Although the QQQ is looking like a gap above the trend, we look at the big picture. On the daily chart , we currently have a larger uptrend that has been broken down. Similar idea with the daily SPY , we still continue to see the confirmation of the negative divergence. This has been building and going back for months. This forecasts a much bigger move to the downside. A 5% drop doesn't do this justice. The coming green days may likely just be a kickback to make it look bullish . We'll likely still drop into the end of the month. One thing to note, is if they run up and try to make it a little bit higher, we look at the backtest of the bull trend line dating back to 2009.