Monday, August 1, 2016
Economic Calendar & Watch Lists 8/1/2016
US Futures are relatively flat this morning while European markets are trading lower after the banks were offered lower on profit outlook concerns after passing the stress tests. Also weighing on global markets is China’s growth concerns after the July manufacturing PMI came in light for the first time in nearly 6 months. Asian stocks closed mostly mixed.
The SPY broke out to more all time highs after its 2 week long consolidation period but could not manage to close above the best intraday levels. Support will lie at the most recent support pivot at $217.30, followed by the low of Friday’s range $216.13, then $215.75, $215.62, and $215.31. Resistance will lie only at the high of Friday’s range at $217.54.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
10:00 Construction Spending Est. 5.4%
10:00 ISM Index Est. 96.0
Notable Earnings Before Open
Notable Earnings After Close