E E-Mini S&P 500 Trading Recap Observations

The daily timeframe of the E-mini S&P 500 Futures contracts still framing higher above the new year's developing VWAP value area. Quickly moving forward to the daily TPO profiles we can observe a b-shaped profile and an open above value which made the view on this market quite bullish. Yesterday the mentioned unsecured high has been taken out as well. After today's open drive to exploring some higher prices, the market got a pullback back into the b-shaped profile's value to find support with an unsecured low which should be revisited in the near-term. Until now we are quite rotational balanced today.

The weekly VWAP perspective is bullish as the market trades above value and found support at the developing VWAP. Looking at the cumulative delta we can identify a divergence that should be a sing for possible bearish behavior. Looking at the daily perspective we can see an open above value and slope lower. However, the market found support at the previous VWAP close level and were trading between the developing value extremes in a rotational manner. 

On a plain view, the hourly chart is quite balanced. The best scenario is to observe the extremes of the balance area for any reaction or pattern such as a swing failure which could also envolve on the lower timeframes to have a clue about the next possible trading direction.

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Visit our trading community to learn a more indepth analysis process with various tools such as the VWAP or Footprint chart.

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