Economic Calendar & Watch List 7/6/2017

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Thursday July 6, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US futures are tracking lower this morning while European stocks also trade lower by nearly -1%. Losses are being offset by the move higher in crude by over +1.5% after API data dropped for last week. Asian stocks closed mostly mixed.

 

Technicals

The SPY closed back above the 20 EMA for Wednesday’s session as buyers attempted to step in. The SPY is gapping lower this morning and support will lie at the low of yesterday’s range at $241.70, followed by $241.57, the 50 SMA at $241.20, then the near term support pivot at $240.65, continued with $239.93, $239.51, $238.82 and the 100 SMA at $238.45. Resistance will lie at the high of yesterday’s range at $243.01, followed by $243.38, $243.72, $244.38, $244.73, $244.87, and the record highs at $245.01.

 

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**

$TSLA
$LB

Economic Calendar

8:30 Unemployment Claims Est. 243,000

8:30 Trade Balance Est. -46.3B

9:45 Final Services PMI Est. 53

10:00 ISM Non Manufacturing Est. 56.5

10:00 FOMC Powell speaks

11:00 Crude Oil Inventories Est. -2.4M

 

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

NONE

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