Market Summary:

Copper stopped out but still a new long. Gold and silver both stopped out of their long trades.

Crude lower.  Natural Gas has successful breakout.

The US 30yr Treasury higher as the 10yr yield declines to 4.43%.
The expected overbought level for the 10yr yield declines to 4.68%.

The US Dollar – The lower yields are taking the USD down with them.

_________________

S&P 500 Futures   #ESM26, #MESM26

Monthly –Monthly bar making new ATH’s. Trade pressures remain up, but still declining. Volumes closed the month of April as bullish.  The 7611 price is the adjusted high.  The next target up remains 7615. A close below 7300 would confirm any weekly move lower.

Weekly – The weekly bar higher off the Oct 31 resistance line which now becomes support.  Trade pressures remain up. Volumes remain bullish.  The next target up remains 7615. A close below 7436 would confirm any daily move lower.

Daily – Long.  From 7468 on 5/21. Trade pressures remain up,  Volumes remain bullish.

The next target up is 7634.  The expected overbought level rises to 7598.

A close below 7585 would signal lower. The expected oversold level rises to 7355.

[OB/OS trend is rising.]
The VIX closes below 19 at 15.32, indicating market is investable.
The Hedgeye.com VIX risk range is 15.29 – 18.01.

[6-2-26: At 7632. Raise SL for the move up at 7550.]
[6-3-26: Stopped out at 7550.]

__________________