Outlook 06/07: U.S. stocks futures are ahead by 0.4%, pointing to a fourth consecutive session gain after Jobs report. Nonfarm payrolls increased up by just 75,000 in May, much worse than expected. The unemployment rate remained at a 50-year low of 3.6%, according to a Labor Department report.
/ESM19 Value: YVAH 2838 YPOC 2835 YVAL 2825 GAP 2845.50
/ES Plan: Yesterday market closed balanced and overnight looks bullish (GBT 2869), moving above Yesterday's value, so today's options:
A) If market remains above LIS YHOD 2853 with bullish internals, buy towards ONH 2861.25 LVN 2867 GBT 2869 and HVE 2873.
B) If market starts to move below 2853 with bearish internals, sell towards GAP 2845.50 LVN 2843 ONL 2838 and HVE 2825.
Tips: Overnight inventory is bullish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day.
Today's Economic Calendar
10:00 Wholesale Trade
01:00 PM Baker-Hughes Rig Count
03:00 PM Consumer Credit
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
