Good morning traders!
The S&P 500 ($SPY) is trading higher from yesterday’s close. Let’s get into it…
In the news, Jamie Dimon the CEO of JPMorgan Chase commented that the U.S. “economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy.” adding, “But geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go and the never-before-seen quantitative tightening and their effects on global liquidity, combined with the war in Ukraine and its harmful effect on global energy and food prices are very likely to have negative consequences on the global economy sometime down the road.”
Potential Intraday Resistance Levels:
9D EMA (1Y:1D): $381.66
7/13/22 High of Day: $381.92
Potential Intraday Support Levels:
7/14/22 Market Close: $377.91
EOD VWAP: $374.95
Note: Moving averages are reported from the previous trading session and will change during the next trading session.
Friday Economic Events:
Retail Sales 8:30am ET
Empire State Mfg Index 8:30am ET
Import and Export Prices 8:30am ET
Industrial Production 9:15am ET
Business Inventories 10:00am ET
Consumer Sentiment 10:00am ET
Baker Hughes Rig Count 1:00pm ET
Fed Speaker Scheduled:
Raphael Bostic 8:45am ET
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