The E-mini S&P 500 found resistance after filling the gap and testing the lower balanced extreme as well as the Yearly VWAP developing VAL level again. To be noted is also the prior balance area in which the market trades currently in the daily perspective.
The daily TPO strucutre is more likely to be P-shaped. The market opened below value and POC which should be bearish sign for the day until it does not break above that particular POC. In the early overnight session it sold off to the prior profiles POC areas where it found some support for a rotational behavior. Let’s see how the market will react around here with some possible bullish patterns for now.