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The E-mini S&P 500 futures (#ES_F) experienced a significant rally, breaking out of a 100+ point bull flag pattern and achieving new all-time highs. The initial breakout target of 5341 was surpassed, with the futures reaching 5371 overnight. The bullish trend was driven by exiting a consolidation range at 5313 and a surge in AI stocks. Despite a post-rally consolidation phase on June 6, the market maintained key support levels at 5341 and 5349. The next potential targets are 5375, 5395, and 5403 if the upward momentum continues. The market also saw a precise reaction to the NFP data, with 5363 and 5372 as key levels to watch.
Standard trappy data reaction (#ES_F is getting traders primed for CPI and FOMC next week, but it will be 10x more complex and trappy). I posted 5341 had to reclaim to resume up, and good 10 point pop so far. Lock in gains lvl to lvl 5363, 5372 if ES wants it. We sell again<5341 https://t.co/xAQUyDZdQ2
30 yr bonds broke 2 full points(BIG move) off the NFP#. Higher for longer. The rally could be over. Be careful buying dips today. Let the market set up. Trade the OR-long above-short below, it will give you trade selection & keep you from fading a runaway freight train. If we…
Initial NFP reaction in the books in #ES_F and very precise technicals. 5372-5341=the basing range as posted, and we dipped to 5341 and bounced out. No change from here. 5363, 5372 (same upside targets) remain above. 5341 remains support, weaker now. We sell below to 5323 https://t.co/KNaEsJEnGe
