E Weekly VWAP Market Update On ESM0 (SPX)

As mentioned in the previous post, the market found support around the confluence between the developing VAL level and the LVN area of the weekly volume profile. The market raised higher to the DVWAP with a possible test of the DVAH. Currently rotational behavior; therefore we can lean us on the extremes of this current balanced price range on the hourly periodicity. 

The daily perspective closed with a swing failure back in the balance area yesterday. This would be kind of a bearish sign. The Yearly developing VWAP supportive currently. Bracket high and previous Year's VAH close level would be areas to watch for resistance. The weekly DVAH would be confluent with the current bracket high. Let's see what happens.


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