Economic Calendar & Watch List 12/23/2015

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Wednesday December 23, 2015

 

Economic Calendar & Watch List 12/23/2015

 

Morning Notes

US futures are slightly higher this morning as Europe is trading higher by nearly +2% after commodity prices jumped including copper and crude. Crude prices rose over +1..4% after the American Petroleum Institute (API) released data that showed crude inventories falling by 3.6M barrels in the latest week. In addition, OPEC expects the price of crude to approach $70 in 2020 in its World Oil Outlook. Asian stocks closed mixed.

 

Technicals

SPY_12_23

The SPY surged higher again in yesterday’s session as it approaches heavy resistance between $204-$205. Support will lie at the low of yesterday’s range at $201.55, followed by the low of Monday at $200.09. Resistance will lie at the high of yesterday’s range at $203.85, followed by $204.80, $204.84, and the 200 day moving average at $206.25.

 

Small Cap Watch List

*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.

 

**Others On Watch**

NKE

CELG

MU

 

Economic Calendar

8:30 Nov personal spending expected +0.3%, Oct +0.1%

8:30 Nov PCE deflator expected +0.1% m/m and +0.4% y/y

8:30 Nov durable goods orders expected -0.6% and unch ex transportation

10:00 Nov new home sales expected +2.0% to 505,000

10:00 Final-Dec University of Michigan U.S. consumer sentiment expected +0.2 to 92.0

10:30 EIA Weekly Petroleum Status Report

1:00 Baker Hughes Rig Count

 

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

CALM: Cal-Maine Foods – EPS Est. $2.40 Rev Est. $552.31M

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