Good afternoon!
Well, we definitely got our big flips and some nice volatility/two directional action this past week. So far the theme of “June to the moon”, has played out to be true.
The main goal was to try our best to sustain 5243-5244 on June 3rd/4th in order to reclaim range by the 5th/6th. This would heavily mitigate our risk for the coming week ahead of FOMC and CPI. It would also help our odds if we had expanded to 5371-5378-5384/5385.50 aka core areas. That could allow us continuation and expansion for not only the remainder of the month but potentially the next 1.5 years. This ended up working PERFECTLY as we sustained 5246.50 on June 3rd and broke to 5371 on June 6th, expanding to exactly 5384-5385.50 on Friday the 7th. So, what are some of the potential scenarios heading into this week, considering we’ve sustained.