Day-Trading Scenarios for Jul 08, 2026

Weak day-Iran again.

Traders using political tension to take money off the table.

Fundamental Picture

• Fed Minutes: Minutes from the latest FOMC meeting to be released today might show concerns over inflation risks (tariffs, energy) and labor market softening. Officials remain data-dependent with a cautious/hawkish lean from some members—no clear dovish shift. Markets are pricing limited near-term rate moves.

• Sector Dynamics: Tech/AI (chips) faced pressure from Samsung results and broader rotation concerns, weighing on Nasdaq, while the Dow benefits from value rotation. Geopolitical tensions (e.g., Middle East) support oil and add inflation vigilance. Earnings season ramps up soon.

Look to short 236 point rallies into resistance.

But watch the stochastics right before entering a trade.

MBA Mortgage Applications

 7:00 AM ET

EIA Petroleum Status Report

 10:30 AM ET

Treasury Buyback Announcement (Preliminary)

 11:00 AM ET

4-Month Bill Auction

 11:30 AM ET

10-Yr Note Auction

 1:00 PM ET

FOMC Minutes

 2:00 PM ET

Consumer Credit

 3:00 PM ET

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DATE: 7/8/2026

TIME: 9:11 AM

HIGH: 53656

LOW: 53076

CLOSE: 53197

PIVOT: 53310

SUPPORT: 52547

RESISTANCE: 53187

SWING MAGNITUDE: 236

TIME OF COMMENT: 9:11 AM

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