E E-Mini S&P 500 TPO Market Update

Looking at the plain daily perspective we can observe a balanced behavior in the market currently. To be noted it is also the test of the higher extreme after a one-time-framing higher behavior which occurred for several days.

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Moving forward directly to the daily TPO structure we are able to create a composite profile with all the days in the "balance area". Doing this we can see an open in the upper volume distribution (distributions are also balance area. The extremes of such distributions are possible areas of support or resistance) with support at the lower extreme which is confluent with the low volume area. This brought the market to a higher extreme. The conclusion would be a rotational pullback back into "value" or a continuation of the upward rotation to take out the unsecured high. (Unsecured High and Lows tend to be revisited).

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Now then, taking a look at the daily TPO profiles we can observe an open above value and above the previous close. The market found support at the mentioned close level to move higher to the upper balance extreme Currently the market testing a prior VAH close level.

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However, the current weekly and daily VWAP structure is quite bullish with support at the developing VAH levels. This should be kept in mind. Let's see which patterns will occur at the highs now.

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

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