Trade Plan for 6/1-6/5

Last week ended with 'indecision' doji daily candles. Decision time soon.

Last week I thought that potentially we could see some consolidation in the beginning of the week to work off some of the straight upwards exuberance. The caveat was that my theory could be disproved early because $NQ/Nasdaq futures was close to a daily resistance. On Sunday night we saw a gap up open and that set the tone for the rest of the week. ✅

For precious metals I was slightly bearish bias because of the previous close for both $GC/gold futures and $GDX/gold miners stocks, but the week was truly a rollercoaster of price action and they ended up reclaiming local supports. The relative weakness last week in $SI/Silver futures is interesting given the strength of both indices and gold and it continues to ‘hang’ just under a very strong resistance and what would be a major breakout if breached. This week I give all the levels to watch for a rejection or MAJOR breakout.

$CL/Crude Oil futures had been in a large diamond consolidation for over 2 months and finally broke down on the open last week.

Summary of Market Action Last Week:

· The indices gapped up on the holiday open and grinded upwards into Friday, when both $ES/SPX futures and $NQ/Nasdaq futures stalled forming daily doji ‘indecision’ candles.

· $GC/gold futures and $GDX/gold miners rebounded last week, but $SI/Silver futures declined slightly week over week, despite strength in both the indices and gold.

· $XOP/oil equities and $CL/Crude Oil futures dropped from a tight weekly consolidation.

Here’s how last week closed out:

For the week ahead (6/1 – 6/5/26)