2026-06-02
Market Dashboard
Chart Analysis / Live Chart
Working Thesis
MES1!
📊 Pre-Market Playbook (PMP) – Tuesday, June 2, 2026
"Reaction Day Until Proven Otherwise"
Yesterday delivered fresh all-time highs in MES and MNQ, but overnight both markets rotated lower and retraced back toward key weekly opening levels. With no red-folder economic releases today, price is likely to be driven by positioning, liquidity, and headline risk surrounding Iran developments rather than scheduled economic catalysts.
📰 Economic Calendar
🟡 8:30 AM
FOMC Member Hammack Speaks
🟠 10:00 AM
JOLTS Job Openings
- ▸Forecast: 6.87M
- ▸Previous: 6.87M
🟡 Other Events
- ▸RCM/TIPP Economic Optimism
- ▸Wards Vehicle Sales
- ▸API Crude Inventory Bulletin
- ▸Additional FOMC Speakers throughout the day
Market Takeaway
No red-folder events today.
JOLTS is the only scheduled release capable of creating meaningful volatility, but unless there is a major deviation from expectations, today's market likely remains driven by:
- ▸Liquidity objectives
- ▸Positioning after yesterday's ATHs
- ▸Iran/U.S. geopolitical headlines
- ▸VIX behavior
🔵 MES Analysis
Current Structure
All-Time High
7632.75
Current Price
7598.50
Daily Open
7600.75
Daily High
7612.00
Daily Low
7576.25
Weekly Low
7576.00
Price sold off overnight and tagged both the Daily Low and Weekly Low almost simultaneously before recovering.
Key Weekly Levels
Weekly Open / Monthly Open
7594.75
NWOG Midpoint
7592.50
NWOG Low
7590.50
Price is currently trading directly above these levels.
This is a major decision point.
Bullish Scenario
The overnight selloff may simply have been a liquidity raid into:
- ▸Weekly Low
- ▸Daily Low
- ▸Weekly Opening Gap
If buyers continue defending:
Upside Targets
- ▸7610.50 Overnight Swing High
- ▸7612.00 Daily High
- ▸7632.75 ATH
- ▸7650+
- ▸7680+
Bearish Scenario
If Weekly Open fails:
Targets
- ▸7576.00 Weekly Low
- ▸7572.75 Previous Day Low
- ▸7575.25 4H Bullish FVG High
- ▸7559.75 4H Bullish FVG Midpoint
- ▸7554.75 4H Bullish Order Block
- ▸7544.00 4H Bullish FVG Low
- ▸7533.00 1H Bullish Order Block
The highest probability draw on liquidity below current price remains:
7555–7560 Zone
where multiple bullish PDAs align.
🔵 MNQ Analysis
Current Structure
ATH
30692.00
Current Price
30559.75
Daily High
30587.75
Daily Open
30542.75
Daily Low
30317.75
Weekly Levels
Weekly Open / Monthly Open
30416.50
NWOG Midpoint
30401.75
NWOG Low
30386.75
Price has already:
✅ Filled the weekly opening gap
✅ Reclaimed weekly opening levels
✅ Recovered sharply from overnight lows
Bullish Scenario
If yesterday's momentum resumes:
Targets
- ▸30587.75 Daily High
- ▸30692.00 ATH
- ▸30750 Quarter Point
- ▸30900
- ▸31000 Psychological Level
The market continues to trend strongly and remains above all major higher timeframe support.
Bearish Scenario
If the overnight bounce fails:
Targets
- ▸30416 Weekly Open
- ▸30317 Daily Low
- ▸30291 Weekly Low
- ▸30274.50 4H Bullish FVG High
- ▸30269.75 Internal Liquidity
- ▸30266.50 Swing Low
- ▸30216.25 Previous Day Low
- ▸30193.50 4H FVG Midpoint
- ▸30112.50 4H FVG Low
- ▸30055.50 1H Bullish Order Block
The primary downside draw remains:
30275 – 30195
where multiple bullish PDAs converge.
🟣 VIX Analysis
Current Structure
Current Price
16.13
Daily Open
16.28
Daily High
16.28
Daily Low
16.10
Weekly High
16.34
Weekly Low
15.71
New Day Opening Gap
High
16.28
Midpoint
16.16
Low
16.05
VIX is currently sitting inside today's opening gap.
Bullish VIX Scenario (Bearish Equities)
Targets
- ▸16.34 Weekly High
- ▸16.52 NDOG Mid
- ▸16.85 Previous Day High
A move through 16.34 would likely support deeper retracements in MES and MNQ.
Bearish VIX Scenario (Bullish Equities)
Targets
- ▸15.88 Weekly Open
- ▸15.71 Weekly Low
- ▸15.60 NWOG Midpoint
- ▸15.50 Daily Volume Imbalance Mid
- ▸15.22 Previous Week Low
A breakdown below 15.88 would strongly support continuation toward fresh ATHs in equities.
🎯 Narrative Alignment
Current Read
MES:
- ▸Trading directly above Weekly Open
- ▸Holding Weekly Low raid
- ▸Still bullish until 7590 breaks
MNQ:
- ▸Filled NWOG
- ▸Reclaimed Weekly Open
- ▸Holding bullish market structure
VIX:
- ▸Sitting inside today's opening gap
- ▸No clear directional commitment yet
Trade Thesis
Today feels less like a trend day and more like a reaction day.
The overnight move already raided:
- ▸MES Weekly Low
- ▸MES Daily Low
- ▸MNQ Daily Low
- ▸Weekly Opening Gap levels
The question now is:
Does that overnight selloff represent accumulation before another ATH run?
or
Was yesterday's ATH the local top before a deeper retracement into the 4H bullish fair value gaps?
Without a major catalyst, the answer likely comes from:
- ▸How price reacts around Weekly Opens
- ▸Whether VIX can reclaim 16.34
- ▸Whether JOLTS creates unexpected volatility at 10:00 AM
Until then:
The market is sitting between liquidity pools on both sides, and patience is likely worth more than prediction today.
#staydiscipline #staypatient
Transcript reference:
Bias by Ticker
MES1! Yesterday delivered fresh all-time highs in MES and MNQ, but overnight both markets rotated lower and retraced back toward key weekly opening levels. With no red-folder economic releases today, price is likely to…
Yesterday delivered fresh all-time highs in MES and MNQ, but overnight both markets rotated lower and retraced back toward key weekly opening levels. With no red-folder economic releases today, price is likely to be…
* Liquidity objectives * Positioning after yesterday's ATHs * Iran/U.S. geopolitical headlines * VIX behavior VIX is currently sitting inside today's opening gap.
Cory publishes the working thesis before the session, not after — this Playbook and Trade Review are part of that same documented process. No signals, no highlight reel.
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