E E-Mini S&P 500 Trading Recap

Looking at the daily timeframe of the  E-mini S&P 500 Futures contract we can identify Monday as an inside day. With this we can expect either an inside day failure or an inside day break.

As the market is quite rotational and balanced an inside day failure scenario with absoprtion around Monday's highs made the most sense as we mentioned in our tweet in the overnight session. The market found resistance at the low volume area on the volume profile which was confluent with a prior VAH close level on the daily VWAP perspective and brought the market back into value.

Absorption on the Footprint chart and an unsecured low on Monday's TPO profile gave enough market generated information to go with a short trade scenario which played out quite well. Later the market found support around the weekly developing VWAP level which is confluent with the previous day's VPOC. Current profile is volume based b-shaped and TPO based very balanced. Tomorrow's scenario depends on the open but still monitoring TPO extremes.

 

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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