| | | | | Today’s TBUZ TV
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“Your most important work is always ahead of you, never behind you.” – Stephen Covey
 
Friday
- 3pm - Weekly Wrap-Up
 Market Editorial - Chuck Crow HP Inc (HPQ)
HPQ opened Wednesday at 28.15. They reported earnings after the bell on Wednesday, and moved down to a low at 23.59. They were able to bounce back to close at 24.95 but are now even further away from the 30.00 resistance level. Pull Backs and Support
TGT is still down below the 100.00 level. Resistance on this stock should still be considered at the 103.00 level. TGT did rally back to 97.77 on Thursday, but dropped to 94.24 before closing at 94.87.
CSCO rallied to a high on May 28 at 63.99, and still shows that resistance. They did move back down to 62.48 on Thursday, but are staying above the 62.24 high from May 13. CSCO has been stuck in a trading range since reporting earnings on May 15.
SMCI has moved back above the 41.00. The stock traded to a high on Thursday at 43.97. SMCI dropped to a low at 41.04 and closed the session at 41.15. Despite showing the ability to climb they are still barely hanging on the 41.00 level. Observation ES futures opened this week at 5820.00 and rallied up to 6008.00 in the overnight market for Thursday. Before the end of the day they had dropped back to 5884.00 and then closed at 5917.25. The ES futures have already opened the May 30 trade date at 5912.25. They are up almost 300 points from the month open at 5617.50. They are down about 100 from the May high at 6008.00. On the final day of trading in May the market will first navigate the PCE report an hour before the cash open. Barring any major disruptions to the broader market, we will then see how close to the high of the month the ES futures will get before closing May. The reason that matters is when the market opens in June, one of the first things to watch for is the relation between the June high and the May high. If the market opens June and immediately trades above the high of May, then we have a bullish pattern developing. It gives the market a higher high, and at least momentarily a higher low. Following the same development in May that puts the market in an upward trending pattern.
News for the Week
Probabilities for the Week
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