S&P 500 Futures Put Pressure on Central Pivot as Two-Way Structure Drives Setup in New York

ES is bouncing off the lower band after three pullback sessions, and the central pivot is now the key decision point to pivot back towards the upper band or continue into the lower structure.

ES (S&P 500 futures) are still subject to the same regulations two-way macrostructure it’s been going on ever since October 2025. The broader framework continues to function as a rotational environment: rather than establishing a recent directional regime, price has repeatedly moved between predetermined internal reference levels as liquidity changes throughout the session.

After completing the rotation to the upper structure at the beginning of the cycle, ES did so it has returned to the lower range in the last three sessionsand then replied with 6753 and bounced towards daily Central Pivot (CP) at 6,866.50 as the market gets closer to opening in New York. In a two-way environment, the central pivot typically serves as the primary decision point – either converting to acceptance, which reopens the upper band, or rejecting and keeping the lower structure energetic.

The central axis is the New York decision gate

ES bounces off the lower band and presses the daily CP at 6866.50 – the next reading is whether price accepts above the pivot or rejects back to the lower band.

The CP and 6866.50 is the main reference point for the session.

AND break and hold above CP would confirm the observation that the auction is returning towards the upper range, while 6909–7010 returning as the next mapped reference microzone.
AND failure in CP would keep the lower structure in play, with references to the ceiling in the lower range 6753 and 6803 they will remain major draws and decision points if downward pressure re-emerges.

What the tape in central London suggests

The profile shows a value anchored around 6.803 (POC), and above it the participation increases, focusing on the CP test on the way to New York; acceptance vs rejection at the turning point is a decision.

The picture of Central London’s profile/volume is constructive, although still incomplete until the landmark confirms:

POC is located at 6803acting as an anchor of current value.
POC volume 1 focuses in between 6753 and 6803consistent with participation supporting a rebound from the lower boundary.
POC volume 2 builds above 6803which suggests that value and participation are trying to migrate higher.
Price is trading just below CP while the cumulative volume shows a green cluster above the POCwhich reflects stronger participation in uptrends than in pullbacks.

If this behavior continues during the US session, it increases the likelihood of a pivot attempt being made. However, in rotational conditions, the decisive signal is not the touching of the level, but whether the price can be accepted over KP and maintain trading with retests.

New York session scenarios

Acceptance above CP: Maintaining a trade above 6866.50 and a defensive pullback would align the rotation back to the upper range, bringing 6909–7010 in focus as another reference band.
CP rejection: If the level fails to sustain above 6866.50, the lower structure will remain energetic 6803 as a first value magnet i 6753 as a key lower reference in the event of resumption of liquidation.

As long as the ES remains in a bidirectional structure, the cleanest approach is to treat the session as a pivotal decision: acceptance favors rotation to the next band, while rejection favors a return to a lower band reference.