Day-Trading Scenarios for May 7, 2026

Today's SMF is 204, so continue to look for pullbacks of 204 points for buy signals.

• Momentum: Positive, with strong buying interest. Indicators (e.g., moving averages) lean bullish on daily/weekly frames, though overbought conditions (high RSI in spots) suggest potential for consolidation or pullbacks if momentum fades.

Bias for today: Mildly bullish continuation as long as futures hold above ~49,800–49,900 and Iran news stays constructive. Watch for volatility around 8:30 AM data and any headlines. Day traders might look for dips as buy opportunities in the uptrend or breakout plays above 50k.

Entries and targets are great, but if you do not manage a trade especially in the short run, your results will be sub par.

Challenger Job-Cut Report

 5:30 AM ET

Jobless Claims

 8:30 AM ET

Productivity and Costs

 8:30 AM ET

Construction Spending

 10:00 AM ET

Construction Spending

 10:00 AM ET

EIA Natural Gas Report

 10:30 AM ET

Treasury Buyback Announcement

 11:00 AM ET

3-Month Bill Announcement

 11:00 AM ET

6-Week Bill Announcement

 11:00 AM ET

6-Month Bill Announcement

 11:00 AM ET

52-Week Bill Announcement

 11:00 AM ET

4-Week Bill Auction

 11:30 AM ET

8-Week Bill Auction

 11:30 AM ET

Neel Kashkari Speaks

 1:00 PM ET

Treasury Buyback Results

 2:00 PM ET

Beth Hammack Speaks

 2:05 PM ET

Consumer Credit

 3:00 PM ET

John Williams Speaks

 3:30 PM ET

Fed Balance Sheet

 4:30 PM ET

<<<<<<<<<<<<<<<<<<<<<<<<<<<

DATE: 5/7/2026

TIME: 8:42 AM

HIGH: 50135

LOW: 49350

CLOSE: 50034

PIVOT: 49840

SUPPORT: 49809

RESISTANCE: 50325

SWING MAGNITUDE: 204

TIME OF COMMENT: 8:42 AM

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