Overnight session delivered $76.00 in net P&L across six trades on ES, MNQ, and NQ contracts, posting a 66.7% win rate as Asian equity futures tracked steady technicals ahead of the cash open. Three positions carry into today: long ES June calls sitting +$88 unrealized, paired with a pair of MES June longs at modest negative marks and a crude oil position trailing by $380 on weak overnight energy flows. The setup heads into the session with constructive momentum, though positioning remains measured ahead of the manufacturing print.

Our AI stack is reading positive sentiment with the Pi index at 52.6%, while the Markov regime signals trend mode at full confidence. This combination suggests the algos are monitoring for continuation rather than mean reversion, though we're watching for any chop that might emerge if data disappoints. The critical event today is the ISM Manufacturing PMI, forecast to print at 53.3% versus the prior 52.7% reading. A beat here reinforces the soft-landing narrative that's underpinned equities; a miss could trigger tactical pullbacks, particularly in rate-sensitive sectors where positioning has grown crowded heading into June.

The crude position warrants monitoring given Wednesday's AVGO earnings cycle and broader semiconductor exposure across our portfolio. Energy weakness overnight may be pricing in demand concerns, or it could simply reflect rotation ahead of the long weekend. As the session opens, the algos are positioned to fade any overextended moves on the manufacturing data while maintaining core trend exposure in ES and MNQ until we see either a catalyst to rotate or confirmation that the momentum regime holds.