Homework and TradeSheet for Friday May 31st

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)