Monday July 2, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower to start the holiday week. Markets are drifting on continued trade woes. Global markets are starting to show signs of slowing due to the trade war as manufacturing PMI fell in both Eurozone and China. Asian markets settled the day lower.
Technicals
The SPY rejected the 20EMA in Friday’s session and sold off in the end of the day. This morning we are gapping lower and sitting at the $270 pivot/ 100SMA. Support will first lie at the 100SMA and the $270 pivot, followed by the $267 pivot, the 200SMA at $266.56. It continues at the pivots at $265, $259.05, $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at the 20EMA at $273.49, followed by the $274 swing high pivot area, the $275.5 pivot, followed by the gap of $277.5, then $280, $284.10, and all time highs at $286.63.
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**
WYNN, TSLA, DVMT
Economic Calendar
10:00 ISM Manufacturing Index
10:00 Construction Spending
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE