US Futures are drifting lower this morning while European stocks trade lower by nearly -1%. Heightened volatility and tensions with North Korea continue to weigh on markets. President Trump gave a strict warning to North Korea to refrain from missile tests near Guam. Asian stocks tumbled to end the week.
The SPY (NYSE:) sold off on accelerated volume throughout yesterday’s session, ending on the lows. Support will lie at the low of yesterday’s range at $243.70, followed by gap entry at $243.30 and gap fill at $242.55. Support continues at $240.85 and the 100 SMA as well at $240.85. Resistance will lie at the 20 EMA at $246.16, followed by the the high of yesterday’s range at $246.44, $247.25, the ascending resistance at $247.6 and record highs at $248.91.
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**
8:30 July expected +0.2%
9:40 Dallas Fed President Robert
11:30 Minneapolis Fed President Neel
Notable Earnings Before Open
Notable Earnings After Close