Thursday July 2, 2015
Economic Calendar 7/2/2015
Morning Notes
US Futures are just slightly higher while European stocks are unchanged as the market awaits the June payroll data to be released this morning at 8:30 A.M. EST. Greece is still waiting on the vote for European Union bailout proposals as the deadline is July 5. Asian stocks closed mixed.
Technicals
The $SPY tested the nearest support of $207.30 yesterday and closed back above at $207.50. The next critical point to reclaim is the $208 level. If the $SPY can reclaim this level with force, a potential move higher is of a greater possibility. For support, the $SPY will need to hold above $207.30-$207.
In Play
Due to the July 4th Holiday weekend and the market closed on Friday, July 3rd, volumes will be extremely light and trades will be limited. Please refer to our momentum scanners to locate a potential trade at the open.
Economic Calendar
8:30 Average Hourly Earnings (MoM) – Est. 0.2%
8:30 Nonfarm Payrolls – Est. 230K
8:30 Initial Jobless Claims – Est. 270K
8:30 Unemployment Rate – Est. 5.4%
8:30 Private Nonfarm Payrolls – Est. 228K
8:30 Participation Rate
10:00 Factory Orders (MoM) – Est. -0.5%
Earnings Before Open
NONE
Earnings After Close
NONE
Happy Trading!
