Friday July 1, 2016
Economic Calendar & Watch Lists 7/1/2016
Morning Notes
US Futures are pointing slightly lower this morning on what is expected to be a lighter volume session ahead of the July 4 holiday weekend. European stocks are holding on to slight gains while Asian markets closed higher, led by the Hang Seng closing higher by +358 points.
Technicals
The SPY surged higher for the third consecutive day of strong gains and closed back above the macro descending resistance. Support will lie at the former macro resistance at $209, followed by the 50 day moving average at $207.68, the support pivot at $207, and the low of yesterday at $206.56. Resistance will lie at the high of yesterday’s range at $209.54, followed by $210.87, $211.19, and $212.22.
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**
Economic Calendar
9:45 Final Manufacturing PMI Est. 51.4
10:00 ISM Manufacturing PMI Est. 51.3
10:00 ISM Manufacturing Prices 63.9
10:00 Construction Spending m/m Est. 0.6%
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
