1. May ADP Employment Report -2.76 mln vs -9.0 mln

Goods-producing: -794,000
Service-providing: -1,967,000
Small businesses: -435,000
Medium businesses: -722,000
Large businesses: -1,604,000

This is much better than expected. Now we will have to see what is reported this Friday when the BLS non-farm payroll report is released. 

How many of these people are actually enemployed from the standpoint

2. Gold and silver pulling back which is welcome and expected. Not a parabolic moved. This is healthy for gold longer term. Sell off on GDX down to $32.50. SLV has taken a 3% decline. Another entry point is on its way.

3. Pat on the back for the following trades BP has finally gone into the black. McDonalds broke $190 and Nick has taken half the money off the table. RIO is also up signifcantly. Also took 23% gain on Wells Fargo. Remember, you’re only as good as your last trade. This business is a marathon. We don’t gamble here.

4. S&P 500 broke 3100. Dow is at 26,000. Everyone doubted Nick’s call on the market bottom, but here we are.

Perhaps the March Crash was forseeing Covid 19 and the resulting civil unrest and now it’s signaling all clear ahead. Which proves that everything most people know about the market and the economy is wrong.