Markets can be up. Markets can be down. Markets can be unchanged.
They can also be all 3 over the course of enough time. This morning the NQ is up, the YM is down, and the ES is unchanged. Take your pick, which market suits you best. Also, be aware that before the end of the day all can change into something else.
In the positive market you are looking for the next point of resistance. Where is the market trying to climb to? Be aware of support, that level that keeps the market from moving back down. In the negative market look for the next big number down, and be aware of resistance, the number that stops the market from climbing. In the unchanged market, support and resistance show us when the market is likely to change into something else.
Over 70% of stocks track with the S&P 500 Futures
Major Events:
May 26 Core PCE
May 30 Consumer Confidence
May 31 JOLTS Job Openings
June 1 ADP Employment
June 1 ISM Manufacturing PMI
Key Numbers Opens: Above or Below
4190.00 is the open of the Month
4189.00 is the open of the Week
4157.00 is the open
4127.00 is the open of the 2nd Quarter
3895.00 is the open of 2023
What's Hot and Not!
2 Days to the Holiday
Today and tomorrow are the last two days before a Monday holiday. After the holiday Tuesday and Wednesday are the last two days of the month. Look for the market to show us something that we can use when coming back from the holiday. We have a mixed bag of markets this morning. Look for those differences in the markets to start shaping each other, as we get ready both for the long weekend, and for the quick close of the month, next week.
Past performance is not indicative of future results. Futures trading involves substantial financial risk.
Please consult your personal financial advisor before using this information for your own trading purposes.
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