S&P 500 Futures Quarterly DVAH Buyers

The S&P 500 Futures contract ES rose about 0.1% in today's session by supportive buyers around the Quarterly DVAH level. The market was quite rotational with the consolidation around the POC.

Market participants seem to be leaning on the extreme of the current balanced price range with slight bearish tendencies. Sellers might target the swing lows for absorption purposes while the lower and prior VWAP close level could serve as buying interest.

The rotational value target would be the lower Quarterly DVAL level which is confluent with the prior VWAP close level and distribution in case of a drop towards it. 

(Click on image to enlarge)

 

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William K. 3 years ago Member's comment

Certainly this includes the longest string of jargon that I have seen in a while. But I am not impressed.