E Market Observations On The E-Mini S&P 500

I've got the amazing idea to write and post my yearly purely technical observations on the E-Mini S&P 500. We are quickly going through various VWAP periods to understand the overall market structure. To do so, we'll use the VWAP with its developing SD (Standard Deviation) levels and a value area to visualize the current balance/imbalance in the market. 

With that said let's start off with the yearly VWAP perspective. We've seen several attempts to break into the previous year value area but the VAH (+1 Standard Deviation) was supportive which brought the market into a balanced behavior inside of the developing value area. The market was imbalanced to the upside for a short period of this year after it found support at the developing VWAP followed by a sell-off back into the developing value area which brought the market into that rotational behavior from October to December. This month we have seen strong selling out of the developing value area and back into the previous year value area with current support from the previous year VWAP close level. 

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With looking at the quarterly VWAP perspective we can observe that the VAL close level was the top of the balance area that occurred from October to December and trades are below the developing value area which means we are imbalanced to the downside. 

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Let's take also a look at the bearish monthly perspective:

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Strictly going to the daily perspective we can observe an open inside of the previous day value area with which we can expect a rotational behavior until the market breaks out.

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Speaking about the volume profile the market established a double distribution profile with two balance areas with a low volume area in the middle of the week's range. Let's see how the market will eventually fill that LVA. 

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