Day-Trading Scenarios for Jun 04, 2026

Early profit taking accelerated. We covered our shorts at exactly 50841 a 214 tick winner.

• The June contract followed the cash index lower, settling with a significant net loss. It traded weaker throughout the session amid rising geopolitical tensions.

• Broader market: S&P 500 fell ~0.7%, Nasdaq Composite dropped ~0.9%. All major indexes retreated from recent all-time highs.

• Escalating Mideast clashes (US-Iran tensions, threats to ceasefire, potential disruptions in the Strait of Hormuz) drove oil prices sharply higher (WTI up ~2-3%+ intraday, Brent near $97-98/bbl).

• Higher oil prices and rising Treasury yields pressured risk assets, especially cyclicals and energy-sensitive names.

• Late-day selling accelerated after early weakness. Tech and growth stocks also faced profit-taking.

• Data:

  • 8:30 AM ET: Initial Jobless Claims (expected ~215K) and Productivity & Costs (Q1 revised).

  • Fed speakers: Multiple on tap (Barkin, Bowman testimony, others).

• Broader drivers:

  • Geopolitical risks remain front-and-center — oil price moves and any updates on US-Iran/Middle East will heavily influence sentiment.

  • Markets are digesting the pullback from records amid elevated valuations and sticky inflation concerns, but resilient corporate/consumer backdrop still provides underlying support.

Challenger Job-Cut Report

 5:30 AM ET

Jobless Claims

 8:30 AM ET

Productivity and Costs

 8:30 AM ET

Thomas Barkin Speaks

 8:30 AM ET

EIA Natural Gas Report

 10:30 AM ET

Treasury Buyback Announcement

 11:00 AM ET

3-Month Bill Announcement

 11:00 AM ET

6-Week Bill Announcement

 11:00 AM ET

6-Month Bill Announcement

 11:00 AM ET

52-Week Bill Announcement

 11:00 AM ET

3-Yr Note Announcement

 11:00 AM ET

10-Yr Note Announcement

 11:00 AM ET

30-Yr Bond Announcement

 11:00 AM ET

4-Week Bill Auction

 11:30 AM ET

8-Week Bill Auction

 11:30 AM ET

Mary Daly Speaks

 1:10 PM ET

Treasury Buyback Results

 2:00 PM ET

Fed Balance Sheet

 4:30 PM ET

<<<<<<<<<<<<<<<<<<<<<<<<<<<

DATE: 6/4/2026

TIME: 7:17 AM

HIGH: 51418

LOW: 50738

CLOSE: 50803

PIVOT: 50986

SUPPORT: 50769

RESISTANCE: 51346

SWING MAGNITUDE: 223

TIME OF COMMENT: 7:17 AM

COMMENT: For today's real-time trading calls enjoy a One Week Trial at https://www.eminiace.com/services