Day-Trading Scenarios for May 8, 2026

Expect the same kind of market as yesterday. You should get 2 at most 3 good runners.

Hit them then close out your week green.

The contract remains in a broader uptrend but showed short-term consolidation/pullback on Thursday after failing to hold above key psychological levels.

• Resistance: 50,000–50,200 (psychological + recent highs). Clearing and holding above 50k would be bullish for new highs.

• Support: 49,500–49,600 (near-term), then 49,350–49,000 zone and stronger support lower.

• Momentum: Mixed-to-positive on higher timeframes. Recent action suggests overbought conditions easing, setting up potential for continuation if data/geopolitics cooperate. Watch for breakout or rejection at round numbers.

Bias for today: Cautiously bullish on any positive Iran response or soft jobs data, but expect volatility around 8:30 AM. Dips could be bought in the uptrend, while a failure at 50k might lead to consolidation.

Lisa Cook Speaks

 5:45 AM ET

Employment Situation

 8:30 AM ET

Consumer Sentiment

 10:00 AM ET

Baker Hughes Rig Count

 1:00 PM ET

Goolsbee, Daly, Bowman, Waller speak

 7:30 PM ET

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

DATE: 5/8/2026

TIME: 9:18 AM

HIGH: 50238

LOW: 49581

CLOSE: 49700

PIVOT: 49840

SUPPORT: 49508

RESISTANCE: 50180

SWING MAGNITUDE: 188

TIME OF COMMENT: 9:18 AM

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