Day-Trading Scenarios for Jul 03, 2026
- Alex Wasilewski
- Jul 6
- 1 min read
We expect a two-way trading range today bounded by buying around 52971 and shorting around 53398.
Fundamental Picture
ISM Data: June Manufacturing PMI came in at 53.3 (slightly below expectations, down from 54.0), still showing expansion for the sixth month. Services PMI (released today) at 54.0 (in line with forecasts, down from 54.5). Both indicate continued moderate growth with easing price pressures (good for sentiment) but some slowdown in momentum. Employment improved modestly in services.
Broader Backdrop: Markets are digesting last week's soft jobs report and Fed Chair Warsh's steady comments on inflation. The Dow has been outperforming on sector rotation (financials, industrials, "old economy" names) while tech remains choppy. Geopolitical relief (U.S.-Iran) and AI tailwinds continue to support risk appetite. Quiet week ahead before earnings ramp up and Fed minutes.
Overall: Fundamentals remain constructive—expansionary PMIs, moderating inflation signals, and no major shocks. Soft labor data keeps rate-cut hopes alive without panic.
PMI Composite Final
9:45 AM ET
ISM Services Index
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: 7/6/2026
TIME: 09:25 AM
HIGH: 53400
LOW: 53074
CLOSE: 53164
PIVOT: 53213
SUPPORT: 52971
RESISTANCE: 53398
SWING MAGNITUDE: 226
TIME OF COMMENT: 10:29 AM
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