E-Mini S&P 500 Futures
Monday turned out to be a Balanced Day with Value shifting higher. 1066-1068 Initial Support provided great trade location to initiate Longs. Once we bottomed at 1066.50 on the extreme NYSE TICK reading of -1200, I began working with the Scenario that the Low of Day may be in, and ES could now rotate higher to test the VPOC at 1074.50, which it did. Price did not re-test the 1069.50 IB Low following the VPOC test, and I was mainly focused on buying pullbacks with a target of 1077 ahead of the IB High at 1077.25. It took the entire afternoon, but price did eventually get there at the Close. Corporate earnings announcements kicked off after the Close, so it's not too surprising that we saw balancing ahead of that.
Note for Overnight Session
The Key Levels from Monday are in-play in the overnight session. We saw heavy acceptance in the 1074-1075 Area, and it is primary support. A break below 1068 would be a red flag for Buyers. The primary upside target is the gap fill at 1087.50. Today was another narrow range day with a narrow Value Area, and this type of action usually resolves in a trending move.
ES 5-Minute Chart
ES Day Session Volume Profile Chart