Friday July 6, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are flat in trading this morning. The first round of tariffs went into effect today on Chinese goods with more ready to go into effect. China, in turn, imposed higher levies on a equal amount. Asian markets settled the day mostly higher.
Technicals
The SPY continued its consolidation trend between the 100SMA and the 20EMA in yesterday’s session closing at the 20EMA. Support will first lie at the 100SMA and the $270 pivot, followed by the $267 pivot, the 200SMA at $266.89. It continues at the pivots at $265, $259.05, $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at the 20EMA at $273.11, followed by the $274 swing high pivot area, the $275.5 pivot, followed by the gap of $277.5, then $280, $284.10, 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**
BIIB, TSLA
Economic Calendar
8:30 Non-Farm Payrolls
8:30 International Trade
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
