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June 4th, 2010: Update 1 – Pre-Market

Posted by pugsma on June 4, 2010

6:30am EST:  ES Futures have traded up to 1107 (1110 cash equiv.) and have since backed off a bit to 1104 (1107).  As stated in the EOD update last evening, the bias is for higher prices.   A decent May jobs number (above 300K) should contune the upward momentum and a blow-out 500K number should accellerate it.  The first imporant resistance in the cash market is 1110 and then 1115.   To the down-side, 1088 is important to hold.

SP-500 ES Future 60-min Chart (6:18am):

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