Tuesday August 7, 2018
Economic Calendar & Watch List
US Futures and European stocks are higher in early morning trading. The markets are again pushing higher on what has been a strong Q2 earnings season. Asian markets settled the session mostly higher.
The SPY continued to exhibit strength in yesterday’s session encountering resistance near that swing high pivot. Support will first lie at the 20EMA of $280.64, followed by the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot, then the $274 pivot and 100SMA at $272.02. It continues at the pivot at $270, the 200SMA at $269.98, 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 yesterday’s highs of $284.99 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**
Z, ONCE, XRAY, TWLO
Notable Earnings Before Open
Notable Earnings After Close
Walt Disney (DIS) – EPS Est. $1.97
Snap Inc. (SNAP) – EPS Est. $-0.32