Much commentary from yesterdays homework has played out already but will add further comments:
DAX – 120 minute bear flag – poised for test down, trade down further or stabilize into month end….(?)
SPs – 3 bar breakout mode, Friday will be day 7 of extended run. (Broke down over night – down seasonal still lasts until the middle of June. 2700 – 2730 is the middle of that prior weekly trading range.)
US – will be day 7 of extended run – large gaps – watch for retrace into gap for first play and previous days high.
GC = 1302 = upside target – previous giant volume node
HG – watch for 3 pushes down on 120 minute.
CL – will have 60 minute grail sale on any reaction up (down further in overnight action)
Summation ticks index closed on a sale – has not been oversold (yet)
Volume was light on Thursday for inside range consolidation day. Last day of the month!
LEVELS FOR SP Friday – upside: 2764, 2766.25, 2772, 2776.50, 2782 downside: 2753.75, 2744
8:30 A.M. EST Canada GDP , USD Core PCE, and USD Personal Spending
9:45 A.M. EST USD Chicago PMI
10:00 A.M. EST USD Consumer Sentiment
Last day of the month!
First Notice: Jun 2,5,10 Year Notes(CBT)