Friday July 7, 2017
Economic Calendar & Watch List
Morning Notes
US futures are edging higher this morning awaiting the US jobs report. Losses are being offset by the move higher in crude by over +1.5% after API data dropped for last week. Asian stocks closed mostly mixed.
Technicals
The SPY sold off on accelerated volume after breaking down through the 50 SMA in Thursday’s session. Support will lie first at the near term support pivot at $240.65, followed by the low of yesterday’s range at $240.34, then $239.96, $239.51, $238.82 and the 100 SMA at $238.54. Resistance will lie at the 50 SMA at $241.24, followed by the high of yesterday’s range at $242.03, the 20 EMA at $242.32, then $243.01, $243.38, $243.72, $244.38, $244.73, $244.87, and the record highs at $245.01.
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**
Nothing has presented a viable technical setup as of yet. Join us live in chat for the latest updates and alerts!
Economic Calendar
8:30 June non-farm payrolls expected +177K, June private payrolls expected +170
8:30 June avg hourly earnings expected +0.3%
8:30 USDA weekly Export Sales
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
