Daily Commentary: June 02, 2025

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Major Economic Releases Ahead

Posted by Pete Stolcers on June 02
www.oneoption.com

The news will heat up Wednesday.

PRE-OPEN MARKET COMMENTS MONDAY – PRE-OPEN MARKET COMMENTS MONDAY – Overseas weakness to start the day. Market has not had any material change in the last week and it is not likely to today. We will test the downside in a wimpy fashion first. Prior day low is 40 pts away and we are not likely to get there. 

What does that mean? “Inside day” likely.

ISM Man 30 minutes after the open. 

Major economic news this week and traders will be passive. All of this sets us up for a gradual probe for support. If you were only going to do one trade today you would wait for support to form and you would find a stock like PLTR to trade on the long side. There will be many other stocks that are as good or better than that stock. Don’t follow the guide, find your own. 

Support is $585 and resistance is $595.

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