Economic Calendar & Watch List 1/4/2016

1716

Monday January 4, 2016

 

Economic Calendar & Watch List 1/4/2016

 

Free Chat Monday Starts NOW

Morning Notes

US futures are sharply lower this morning to start 2016 and European stocks are trading lower by over -3% after weaker than expected manufacturing data out of China sent chinese stocks tumbling by nearly -7%. In addition, Saudi Arabia cut ties with Iran sending the price of crude higher. This would mark to largest disengagement in decades between two Middle Eastern powers.

 

Technicals

SPY_1_4

The SPY traded sharply lower in Thursday’s session before the New Years Holiday on Friday when markets were closed. Support will lie at the low of Thursday’s range at $203.87, followed by $203.85 amd $201.55. Resistance will lie at the high of Thursday’s range at $205.89, followed by the 200 day moving average at $206.20, the 50 day moving average at $206.89, and then $207.21.

 

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**

BABA

VRX

TSLA

 

Economic Calendar

9:45 Final-Dec Markit manufacturing PMI expected -0.3 to 51.0

10:00 Nov construction spending expected +0.7% m/m

10:00 Dec ISM manufacturing index expected +0.4 to 49.0

11:00 USDA weekly grain export inspections

5:30 San Francisco Fed President John Williams speaks

 

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

NONE

NO COMMENTS

LEAVE A REPLY