Monday July 9, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. US markets broke to the upside from the recent consolidation to end the short holiday trading week on positive employment data. European shares are higher after stronger than expected trade data from Germany. Asian markets settled higher on the day with strength in the Chinese markets.
Technicals
The SPY broke out from it’s consolidation trend, rising through the 20EMA and encountering resistance at the $275.5 pivot in Friday’s session. Support will first lie at the 20EMA at 273.32, followed by the 100SMA and the $270 pivot, then the $267 pivot and the 200SMA. 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 $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**
With market, NFLX, FB, AAPL
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
