Narrow range (NR7) day with bullish undertone
Who would have thought that the narrowest days of the past 7 days will be printed one day before quad witching.
But here we are. SPY closed down 0.1% yesterday.
Unemployment data came in tepid, with continuing claims at 20.544 million for the week ending June 6.
OTOH, Philly FED index turned positive and Leading Economic index clocked in at +2.8%, the first increase since Jan.
FED back stop and some emerging green shoots provide a bullish undertone to the markets.
ES futures are perking up +30 handles as of now as Europe talks more stimulus today.
SPY
Resistance: R3 315.09 R2 313.99 R1 312.88
Daily Pivot: 311.20
Support: S1 310.09 S2 308.41 S3 307.30 Hi 313.17 314.24
But here we are. SPY closed down 0.1% yesterday.
Unemployment data came in tepid, with continuing claims at 20.544 million for the week ending June 6.
OTOH, Philly FED index turned positive and Leading Economic index clocked in at +2.8%, the first increase since Jan.
FED back stop and some emerging green shoots provide a bullish undertone to the markets.
ES futures are perking up +30 handles as of now as Europe talks more stimulus today.
SPY
Resistance: R3 315.09 R2 313.99 R1 312.88
Daily Pivot: 311.20
Support: S1 310.09 S2 308.41 S3 307.30 Hi 313.17 314.24
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