Tuesday July 3, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. Markets started to rebound in yesterday’s session after Pres. Trump tweeted that the US is getting close to some trade deals. A rise in crude prices is also helping push global markets higher. Please note that today’s regular session ends at 1pm Est. ahead of the Independence Day holiday. Asian markets settled mixed on the session.
Technicals
The SPY traded around its 100SMA/$270 pivot confluence most of yesterday’s session and rallied on news to end the day. Support will first lie at the 100SMA and the $270 pivot, followed by the $267 pivot, the 200SMA at $266.67. 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 $273.34, 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**
TSLA, ROKU
Economic Calendar
8:55 Redbook
1:00 MARKETS CLOSED
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
