Market Analysis for The Week Ahead
Week of 6/8/2025
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Big picture, this week was all about the 3-week balance (large white rectangle below) with the immediate focus on the 5885-5893 to 5936-5940 consolidation range from last week. The week opened with a quick trap below 5885-5893, for which we were prepared with the daily plan for Monday:
If one were so inclined this was the swing long entry for the week as 5870.5 was the cash hours low of week.
Monday closed above 5936-5940 which triggered a test of the top of the balance (5987.5). Buyers struggled to gain much traction above 5987.5 and it led to a liquidation on Thursday which held the important 5936-5940 spot. We got a gap up on Friday and held above 5987.5 the entire day. The below is an RTH only chart with the last 4 weeks.
QQQ 0.00%↑ Additionally back tested and held its prior consolidation range on Thursday.
Bulls remain in full control until sellers accomplish my minimum criteria. Thursday may have looked ugly, but both indices held where they needed to and snapped back both during RTH Thursday and overnight Thursday night.
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