Morning Color

June 6, 2025

Good Friday morning,

I hate to repeat myself but - Another very volatile day in the markets! Yesterday was even more wicked than Wednesday, and the incredible gyrations in the stock market make me think of the mosh pits I used to jump into when I was seeing my favorite heavy metal bands back in the day!!! They were nuts!!! Well, in my humble (but accurate) opinion, the stock market is now in the same category! Pure insanity. So, expect more of the same today.

Case in point, futures just ripped higher after the government BLS Jobs Report, and this is after they have already recovered a large part of the losses from yesterday. In the profile and key levels below, you can see the important levels to watch. Price is now above a very important level for today: half-back and the POC (Point of Control) at 5970. This will be the most important level for today.

If buyers can push price above that level and stay there, then we can look for a move to our upper targets at 5980-5990, which were just hit on this pop! The litmus test from here for the bulls is to see if the buyers can keep their operations going, because if they can, we could then see 6000 - 6010, then maybe even 6040. However, if sellers push price below 5970, then 5950 would be the next stop, followed by 5920-5910.

Also, you can now click on the excel spreadsheet and use it everyday!

Futures are currently trading at 5993 at the time of this writing.

VPOC Update: As discussed, 6006 was in play and got taken out yesterday. We now have 4 above and 22 below!.

TARGETS AND KEY LEVELS TO WATCH:

/ES upside target is: 5980 - 5990, then 6000 - 6010, then 6040

Key Levels: 5970 POC & 1/2 Back

downside target is: 5920 - 5910

/NQ upside target is: 21,900 - 21,940

Key Level: 21,864 POC

downside target is : 21,620 - 21,600

/RTY upside target is: 2115 - 2125

downside target is: 2090 - 2080