Key Events This Week:
1. May ISM Manufacturing PMI data - Monday
2. April JOLTS Job Openings data - Tuesday
3. May ISM Non-Manufacturing PMI data - Wednesday
4. Initial Jobless Claims data - Thursday
5. May Jobs Report - Friday
6. Total of 7 Fed Speaker Events This Week
This week is all about the labor market.
NEW: Kalshi has been hit with a nationwide class action lawsuit in the SDNY for operating an illegal online sports betting platform and for "duping" customers into believing that they are legally gambling against other consumers when they are actually gambling against the house.
My deepest condolences to the families of the two National Guardsmen who were murdered in cold blood today.
How many innocent people dying does it take to reform our broken system?
Radical action is needed.
#ES_F Daily Plan | June 23
Friday’s session opened within Tuesday’s and Wednesday’s value areas and tested the 6070–6080 resistance zone, where sellers were once again active. This was followed by the formation of a double distribution profile to the downside, with a set of single prints in the B-period and value developing cleanly lower.
With a wave of headlines over the weekend, staying nimble is essential—use key levels to gauge the strength or weakness of the auction. Failure to reclaim Friday’s upper distribution keeps sellers in short-term control.
In terms of levels, the Smashlevel is at 6008—Friday’s value support. Holding above 6008 would target the resistance area between 6034 and 6042 (UT1). Acceptance above 6042 would signal strength, opening the door for a move into the resistance area between 6070 and 6080 (FUT).
On the flip side, failure to hold above 6008 would target 5979 (DT1), with a final downside target (FDT) at 5956, under sustained selling pressure.
#ES_F Daily Plan | June 9
As discussed in the Weekly Plan, the market finally closed above the 3-week balance high at 5988 on Friday, after struggling to do so during both Wednesday’s and Thursday’s sessions. While this marks a potential breakout, the move has so far lacked strong conviction, making it crucial to monitor for continuation—or lack thereof—tomorrow.
A higher or unchanged value area would indicate a bullish response, while a move back below 5988 would put the weekly balance breakout into question.
In terms of levels, the Smashlevel is at 6019—Friday’s value resistance. Holding below 6019 would target the support area between 5995 and 5988 (DT1), with a final downside target (FDT) at 5956, the inside week high, under sustained selling pressure.
On the flip side, reclaiming and holding above 6019 would signal strength, targeting 6034 (UT1), with a final upside target (FUT) at 6050 under sustained buying pressure.