6000 Is the Line: Markets Strong, But Data Storm Is Coming

ES and NQ continue to show strength — but CPI, PPI, and jobs data could shift the tone quickly.

Market Context – June 6, 2025
The market remains exceptionally strong, with ES consolidating just above 6000 and NQ climbing toward recent highs at 21,850+. The structure is clean, pullbacks are shallow, and buyers continue to hold control after last week's rally and this week's grind higher.

But the backdrop is far from calm — we're heading into a high-impact economic data cluster that could add serious volatility. CPI and Core CPI drop Wednesday morning, followed by PPI, jobless claims, and natural gas inventories on Thursday. These numbers will likely determine whether this rally holds — or cracks.

From a price-action standpoint, ES 6000 is the key battleground. If bulls defend this level, the path opens to 6050 and potentially 6075. But if the market fails here and loses 5930, watch for acceleration down to 5900 or even 5850.

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🔍 Key Levels to Watch

• ES: 6000 (support), 6050 / 6075 (resistance); 5930 / 5900 / 5850 (downside levels)

• NQ: 21,750 (support), 21,875 / 22,000 (resistance); 21,250 (breakdown level)

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🎯 Bullish Scenario
If ES continues holding above 6000 and reclaims 6015, expect momentum toward 6050+ ahead of Wednesday’s CPI print. NQ above 21,850 could push for new highs.

🔻 Bearish Scenario
Failure at 6000 followed by a break below 5930 could shift short-term trend. If CPI data surprises hot, look for momentum sellers to drive price quickly toward 5900, then 5850.

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🧠 Mindset Tip of the Day
Strong trends tempt overconfidence — but this week’s data is a wild card. Respect your levels and trade what the tape confirms, not what the trend assumes.

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Regards

Shawn