The E-mini S&P 500 futures ($ES_F) market has exhibited choppy and low liquidity trading conditions from April 14 to April 16, 2025. Market participants noted a bearish close with higher lows and higher highs, indicating mixed signals. On April 15, the market experienced a true gap up but encountered responsive sellers near last week's high, particularly around the 5480 resistance level, which traders cautioned against going long near. The price action showed a narrow value area with an 80% weekly probability of dropping from the previous week's value area high (5391) to the value area low (5036) if bulls failed to reclaim 5419. Technical analysis indicated the market was forming a bullish structure between 5413 and 5425 with potential targets above 5460, but breaking below 5400 would shift focus to short positions targeting 5370 and 5340. The market tested support levels multiple times, weakening them, with key levels at 5350, 5328, and 5298, and further support at 5263 and 5251. The market's directional bias turned negative as prices traded below primary clusters, suggesting caution for long-only traders. Despite attempts by bulls to hold the bottom green zone and traverse the yellow zone, the market remained volatile with bearish imbalances and choppy traps observed in morning sessions. The monthly volume-weighted average price (VWAP) near 5320 has held above in the past week but was being tested again as of April 16. Overall, the market showed a struggle between buyers and sellers amid low liquidity and narrow trading ranges.