Friday August 3, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly higher in trading this morning. Investors are awaiting data from the Jobs report that is due out this morning. European gains were limited on renewed Brexit concerns after comments from BOE Governor Carney on the chance of a no-deal Brexit. Asian markets settled the session mixed.
Technicals
The SPY started to show some strength in yesterday’s session bouncing off its 20EMA, yet remaining in it’s consolidation range. Support will first lie at the $280/ $279.5 pivots and the 20EMA at $279.87, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot, then the $274 pivot and 100SMA at $271.86. It continues at the pivot at $270, the 200SMA at $269.69, then pivots at $267, $265, $259.05, $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will first lie at the swing high of $284.37, 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**
SYMC, TTWO
Economic Calendar
8:30 Non-Farm Payrolls, expected 190k
8:30 International Trade
Notable Earnings Before Open
Kraft Heinz (KHC) – EPS Est. $0.91
DISH Network Corporation (DISH) – EPS Est. $0.69
Notable Earnings After Close
NONE