Day-Trading Scenarios for Jul 07, 2026
- Alex Wasilewski
- Jul 7
- 1 min read
Trend remains up so we buy pullbacks.
First good buying zone begins at 53470.
Recent Momentum: Markets digested mixed but solid ISM data last week (Manufacturing 53.3, Services 54.0). Focus shifts to Fed minutes (later this week) and upcoming earnings (e.g., Pepsi, Delta). AI/tech rebound helped indices yesterday, but global chip concerns (e.g., Samsung results) are weighing on sentiment this morning.
Broader Context: The Dow continues to hit records (first close above 53,000 yesterday) on rotation into value/old-economy stocks, while Nasdaq shows more volatility. Soft prior jobs data and moderating inflation keep rate expectations anchored. Geopolitical and policy uncertainty remain in the background.
Strong bullish trend intact with multiple record highs.
Support: Near-term ~53,200–53,300, then 52,900–53,000 and 52,500 zones.
Resistance: ~53,600–53,800; further ~54,000+.
Momentum: Positive moving averages and trend channel. Short-term overbought risk exists, but higher lows support continuation. Volume may be moderate early in the week.
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DATE: 7/7/2026
TIME: 9:20 AM
HIGH: 53421
LOW: 52962
CLOSE: 53372
PIVOT: 53252
SUPPORT: 53243
RESISTANCE: 53707
SWING MAGNITUDE: 230
TIME OF COMMENT: 9:20 AM
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