S&P 500 futures bounce at 5,915 Vwap support spurs rally to 5,980; eyes 6,000 zone

After reclaiming VWAP mid-line and sweeping through POC/VAH, bulls solidified control above 5,962 support and set sights on the 6,000

Tuesday, 3 June Session:

• London Session Low & VWAP Rejection (5,915):
• Early in London trade, ES futures retraced to 5,915—precisely the VWAP middle-line in red—holding firm as clear intraday support. That VWAP bounce set the tone for the remainder of the session, preventing any deeper drawdown below yesterday’s swing low (5,915) and signalling buyers were ready to step in.
• Clearing Key Volume Profile Nodes (POC & VAH):
• From 5,915, price accelerated higher, slicing through the blue POC (≈5,946 area) and then through the pink VAH (≈5,962.50). Once those two high-volume rejection zones were reclaimed, bulls gained conviction. Breaking above POC/VAH quickly shifted the market structure from neutral to bullish on the intra-day.
• Target Hit: 5,980.75:
• With volume support behind the move, ES pressed up to the 5,980.75 target (horizontal green on the chart). At that level, intraday supply emerged—visible as the cluster of dark volume bars on the Volume Profile—capping further upside.
• Late-Session Price Action & Retest:
• After tagging 5,980.75, profit-taking saw ES pull back toward the clustered VWAP/POC confluence near 5,962.50. The 5,962.50 region (now acting as support after clearing earlier in the session) held on the first retest, confirming it as the new intraday demand zone. Into the close, futures consolidated between 5,980–5,962, trading just above the VWAP mid-line and holding inside the upward sloping intraday trend channel.
• Technical Implications for Wednesday:
  1. Bullish Bias Above 5,962.50 (VWAP/POC Zone): As long as ES remains above that 5,962.50 confluence, the path of least resistance is higher, with 6,010 (daily upper channel) and then the psychologically significant 6,000 round‐number target.
  2. Intraday Support & Stop Level: A drop back below 5,962.50 could retest 5,946 (previous POC) and then 5,915. A sustained break below 5,915 would negate today’s bounce and shift structure back toward neutral/bearish.
  3. Upside Objectives: After reclaiming 5,980.75, next upside barrier sits at ~6,010 (upper trend/channel line), followed by 6,039.50 (upper weekly Visible Range high).
  4. Volume Profile Considerations: The large volume node around 5,980 signals potential magnet zones—if ES can break and hold above 5,980.75 early tomorrow, it stands a good chance of testing 6,008–6,039. Otherwise, consolidation between 5,962–5,980 likely persists.