US stock futures pointed higher on Monday, June 26, and European shares rose as Wall Street posted a slight rebound to end last week as oil prices stabilized. Increased M&A activity along with the rally in European bank stocks helped, as well. Asian stocks closed modestly higher.
Technicals
The SPY (NYSE:SPY) consolidated further throughout Friday’s session while holding just above the 20 EMA. Support will lie at the 20 EMA at $242.69 followed by the low of Friday’s range at $242.47, then $242.41 $241.63, the near term support pivot at $240.65. Support continues at $239.93, $239.51, $238.82, and the 50 SMA at $240.11. Resistance will lie at the high of Friday’s range at $243.51, followed by $243.53, $243.59, $244.26, $244.73, $244.87, and the record highs at $245.01.
Small Cap Watch List
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**Others On Watch**
Economic Calendar
0830 ET Durable Goods expected -0.6% and +0.4% ex transportation
0830 ET May Chicago Fed national activity index expected -0.29 to 0.20
1030 ET Jun Dallas Fed manufacturing activity expected -1.2 to 16.0
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE