The E-mini S&P 500 closed lower by about 0.1%, ending the session at 4768 with a balanced volume profile structure and forming an inside day. Market participants might target the extremes for absorption purposes to determine whether there will be an inside day failure or a break in the next session. The upper low-volume node might be targeted as a selling area, while the lower buying tail from Thursday’s session could act as a supportive area for buyers. Additionally, the single print area might be targeted in case of a selling rotation. The prior two profiles can be combined as a composite structure to assess extremes and the particular POC to determine the possible bias for the session, given the p-shaped structure.

On the daily interval, the market is still one-time-framing higher, indicating that traders are leaning on the buying side. However, the short-term perspective is exhibiting a balanced behavior, possibly due to ongoing risk adjustments. Mixed volatility and the dollar could lead to continued rotational activity in the market.

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