Day-Trading Scenarios for Jun 08, 2026

A bit of a relief rally to the overdone selling. But look to sell into resistance.

Previous day's recap (Friday, June 5, 2026):

US equity markets sold off sharply on Friday following a much stronger-than-expected May jobs report (172k added vs. ~80-88k expected). This triggered a "good news is bad news" reaction, raising fears of hotter inflation and delayed or fewer Fed rate cuts, which sent Treasury yields higher.

• Dow Jones Industrial Average: Closed down ~695 points (-1.3% to -1.4%) around 50,867.

• S&P 500: Down ~2.6%.

• Nasdaq: Down sharply ~4.2% (worst day in a while), led by heavy tech/semiconductor selling (e.g., Nvidia, Broadcom, etc.).

• Dow futures (YM): Settled near 50,936 after trading in a wide range (high ~51,849, low ~50,736).

The move ended a multi-week winning streak for the major averages, with the Nasdaq posting its worst weekly performance in over a year. Volatility spiked (VIX up sharply). Geopolitical tensions around US-Iran developments and oil prices also contributed to the cautious mood.

Bargain hunting bulls can buy SMF pullbacks into support around 50735. Bears look to short around 51199.

• Light calendar: Limited major US data today (some quarterly financial reports). Focus shifts to upcoming CPI/PPI (mid-week) for inflation clues.

• Geopolitics: Ongoing US-Iran/Middle East tensions (with some de-escalation hopes or comments from Trump noted in overnight futures swings). Oil prices remain elevated (> $90 in recent context), which could pressure equities if tensions flare but support energy stocks.

• Broader drivers: Fed policy expectations (hot jobs data reduced cut odds), AI/tech earnings momentum vs. valuation concerns, and rotation out of tech into other sectors (e.g., financials, healthcare). Markets have shown resilience but remain sensitive to headlines.

Treasury Buyback Announcement (Preliminary)

 11:00 AM ET

3-Month Bill Auction

 11:30 AM ET

6-Month Bill Auction

 11:30 AM ET

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DATE: 6/8/2026

TIME: 9:17 AM

HIGH: 51849

LOW: 50736

CLOSE: 50936

PIVOT: 51174

SUPPORT: 50705

RESISTANCE: 51281

SWING MAGNITUDE: 243

TIME OF COMMENT: 9:17 AM

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