GAME PLAN REVEALED: Jobs Report, Key Stock Setups, and Commodities

GAME PLAN REVEALED: 06/06/2025

Published At: Jun 06, 2025 by Verified Investing
GAME PLAN REVEALED: 06/06/2025

This morning on GAME PLAN, Gareth Soloway, Chief Market Strategist at VerifiedInvesting.com, broke down the latest non‐farm payrolls data and its market impact, dissected key technical setups across equities, and highlighted critical levels in currencies, bonds, commodities, and cryptos. In this article, we expand on Gareth’s insights—providing historical context, deeper technical analysis, and the psychological framework traders need to navigate what has been an action‐packed week.

1. Decoding the Jobs Report and Market Reaction

The May non‐farm payrolls report surprised on the upside, with 139,000 jobs added versus 125,000 expected. Yet the caveat, as Gareth emphasized, is the steep downward revision of 90,000 jobs over the prior two months.

“Sure, 139,000 jobs sounds great—but what will be revised away next month?”

History shows that initial payroll prints often get tempered: in July 2024, a 150,000 headline gain was whittled down by 75,000 in subsequent revisions. Traders must therefore balance headline strength with underlying weakness. The unemployment rate held at 4.2%, but the labor‐force participation rate dipped—a warning sign that discouraged workers are exiting the workforce. At the same time, average hourly earnings rose 0.4%, a small but meaningful inflationary input that can feed back into Fed policy.

Markets reacted positively: S&P 500 futures popped roughly 0.8% on the news, signaling relief that the economy isn’t imploding—even if the labor market shows gradual softening. Gareth reminded viewers:

“My job is to react to what the charts are telling me, not what I think revisions will do.”

This discipline—responding to price action rather than narrative—is a cornerstone of successful trading.

2. Key Technical Levels: S&P 500 and Nasdaq 100

On the S&P 500 futures (ES), the overnight dip reversed sharply after the jobs print, forming a bullish intraday green candle. The critical zone lies between 5,970 and 6,000. A sustained break above 6,000 would signal that buyers remain in control, potentially targeting the next upside inflection.

By contrast, the Nasdaq‐100 ETF (QQQ) rallied but has yet to reclaim yesterday’s highs. Its next hurdle is the all‐time high double top. Historically, when the broad index (S&P) and tech‐heavy Nasdaq diverge—such as in November 2023 when S&P surged but QQQ stalled—sector rotation often follows. Tech profits may rotate into industrials, financials, or cyclicals before a fresh breakout occurs.

Gareth noted an impending “cycle date” around June 15–19, a historically significant pivot period. In past cycles, markets have pierced highs into such dates to flush weak holders before reversing. Traders should watch whether market breadth narrows as price tests record highs—an early signal of distribution.

3. Intermarket Dynamics: Dollar, Yields, and Bitcoin

US Dollar

The U.S. Dollar Index remains perched on its rising trendline, bouncing between support and resistance without a decisive breakdown. Until it clearly closes below the trendline, the broader uptrend stays intact, favoring dollar‐strength trades.

10‐Year Treasury Yield

The benchmark 10‐year yield, which briefly undercut its trend support this week, is retracing back toward that same trendline. This move reflects the stronger jobs print and reduced odds of multiple Fed cuts. A failure to re‐break lower could serve as a classic “shakeout” before renewed upside.

Bitcoin

Bitcoin flushed alongside the stock market yesterday but has reclaimed the 103,000 level early today. That mark is pivotal: a close below it could open the door to further downside, while a sustained hold may keep bulls in control. As Gareth highlighted,

“Bitcoin remains primarily a risk asset—down when equities fall, up when they rally.”

This inter‐asset correlation helps traders gauge broader risk sentiment.

4. High‐Impact Stocks in Focus

Tesla (TSLA)

Tesla’s 14% one‐day plunge—its largest ever—was driven by Elon Musk’s Twitter feud with Donald Trump and fears over government contract risk. Intraday, it fell nearly 18% before finding support and bouncing back in the pre‐market. The extreme put buying yesterday hints at heightened volatility around key intraday levels.

Broadcom (AVGO)

Broadcom sank modestly on stellar earnings, a testament to its extended chart. A pullback into the 233–234 zone offers a low‐risk day‐trade entry, reflecting the typical 5–7% mean reversion that highly extended semiconductor charts can experience after “beat and raise” quarters.

DocuSign (DOCU)

DocuSign cratered from roughly $29.93 to the mid‐$19s on disappointing guidance. The first gap fill sits at $24.25, with a deeper fill at $22. For day traders, the initial fill offers a quick reversal target, while a swing‐trade into the $22 area sets up against the pivot low near $18.75.

Lululemon (LULU)

Lululemon cratered after hours on inline revenue but lowered guidance—citing tariffs and margin pressure. The first support zone lies between $248 and $253. A deeper swing‐trade entry would require a drop toward the May pivot low near $227. Such guidance‐driven selloffs in consumer names often see 15–20% corrections.

5. Earnings Movers: Nvidia, Meta, and Microsoft

Nvidia (NVDA)

Nvidia has rebounded from its earnings gap but stalled at the $145 pivot high. A breakout there targets $149, followed by the all‐time high double top near $153. Past cycles show that NVDA can trek 8–10% higher into mid‐cycle catalysts before retracing.

Meta Platforms (META)

Meta is testing its long‐term uptrend line around $700. Above there, the gap fill at $715–716 serves as the next target. In Q1 2024, Meta tagged this trendline twice before surging on AI ad‐revenue beats—highlighting the importance of this juncture.

Microsoft (MSFT)

Microsoft has gone nearly vertical post‐earnings to retest its record highs. This vertical move into a resistance area has left MSFT overbought in the short term. Traders should watch for signs of short‐term fatigue or a pullback after such a steep advance.

6. Metals and Commodities: Gold, Silver, Oil, and Natural Gas

Gold

Gold remains in a bull-flag pattern along its rising trendline. As long as it holds support, the upside bias stays intact, setting up for a potential breakout in the weeks ahead.

Silver

Silver’s ETF (SLV) has rallied to $36.30, putting Gareth’s 37 target within reach. Since mid-2023, silver has tended to outpace gold in early breakout phases—making the uptick to 37 a logical resistance zone for profit‐taking.

US Oil (WTI)

Oil is forming a minor bull-flag pattern, with inside bars showing indecision. A clean move above the flag’s top would offer a potential shorting setup, mirroring 2022’s similar pattern that led to an 8% selloff.

Natural Gas

Natural gas is chopping sideways in a tight range. A breakout above the current cap would signal a resumption of its multi‐year uptrend, while failure to break keeps the short‐term neutral bias intact.

7. Weekly Wrap & Trading Psychology

It’s been an exhausting week: jobless claims, Trump‐Xi chatter, Broadcom earnings, and today’s non–farm payrolls. Yet for disciplined traders, volatility equals opportunity. As Gareth likes to say,

“There are always more trades than there is capital—patience and process beat impulse.”

In our live day‐trading room, members captured nearly $20,000 yesterday across 10 trades. Whether you’re day‐trading stocks, deploying multi‐factor swing setups on earnings, or trading commodities and crypto, the edge lies in technical clarity and emotional control.

This afternoon at 3:55 p.m. Eastern, Gareth will host a live weekly wrap‐up—reviewing key levels and positioning for the week ahead. Have a great weekend, and remember: no hype, no guesswork—just price, patterns, and probabilities.

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