Day-Trading Scenarios for Aug 3, 2026

The market continues it's power move up.

I agree that market is over-bought. Wall Street knows it, but they say, "Compared to what?" Where will you put your money to beat inflation?

Stocks. We buy the SMF pullback.

Amazon surged ~15% after strong Q2 results highlighted accelerating AWS/cloud growth and higher AI-related capex guidance. This delivered one of its largest market-cap gains and helped soothe broader AI-spending concerns (building on Microsoft’s positive reaction earlier in the week).
Apple fell sharply (~7.4%), wiping out hundreds of billions in market value after a disappointing outlook tied to supply constraints (notably memory) and growth concerns.

Positive / Bullish lean: Follow-through from Amazon’s strong results and broader AI/cloud optimism; weekend de-escalation notes (e.g., reports of reduced geopolitical tensions involving Iran helping oil ease in some coverage); start of a heavy earnings week (Palantir and others reporting today); and constructive premarket tone.
Risks / Headwinds: Elevated Treasury yields remain a backdrop; inflation and potential future Fed tightening still loom; Apple’s weakness and any lingering supply-chain concerns in tech; ISM Manufacturing PMI due today could influence industrial/Dow names; and typical Monday/post-gap volatility or profit-taking after the Friday rebound and overnight rally.

Overall bias this morning is constructive/risk-on, with futures indicating buyers are active into the new month and earnings calendar. Confirm live levels and any economic data releases on your platform.

PMI Manufacturing Final

9:45 AM ET

ISM Manufacturing Index

10:00 AM ET

Construction Spending

10:00 AM ET

3-Month Bill Auction

11:30 AM ET

6-Month Bill Auction

11:30 AM ET

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DATE: 8/3/2026

TIME: 9:07 AM

HIGH: 52772

LOW: 52123

CLOSE: 52635

PIVOT: 52510

SUPPORT: 52675

RESISTANCE: 53389

SWING MAGNITUDE: 245

TIME OF COMMENT: 9:07 AM

COMMENT: For today's real-time trading calls, enjoy a One Week Trial at https://www.eminiace.com/services

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