E E-Mini S&P 500 Market Recap

The daily perspective is framing higher since the previous Friday's outside bar which was the first sign of a possible change in the overall market context. This mentioned market context changed from balanced to one-time-framing higher. Also, to be noted is the support from the Yearly developing VAL level to a rotational movement to the developing VAH level which was actually the second confluent sign of possible change in the market story. Notice also the inside daybreak in the beginning of this week. All this brought the market to new all-time highs in a pure and simplified technically daily view.

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Now then, looking at the TPO profiles we can see yesterday's profile as a balanced one with an unsecured low which has been revisited and taken out in today's session. To be noted is that the market opened inside of value which is a sign to expect a rotational behavior between the distribution's extremes. Besides the change of market context by breaking the value lower, the market left us with an unsecured asymmetric high which should be an indication to be revisited. In the early RTH session we were able to find some support at a prior NPOC level for now.

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Moving forward to the weekly VWAP perspective we can see a bullish slope to the upside. The market trades above the developing value since it found support around the previous VAL close level in the early days of the week. The developing VAH and VAL, as well as the VWAP, shall be monitored for possible support in our opinion. 

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The market opened above value on the daily VWAP view but dropped lower to test the VAL close level followed by support at a rotational behavior inside of the value close area. Once the market found resistance at the previous VAH close level the market imbalanced to the downside and took out yesterday's low. We were able to find some support around the mentioned NPOC level which brought the market back into the developing value to test the VAL close level. However, we still keep in mind the noted unsecured high which should be revisited.

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