Tuesday January 12, 2016
Economic Calendar & Watch List 1/12/2016
Morning Notes
US futures are pointing slightly higher and European stocks are trading sharply higher by over +1.75% as China’s Shanghai index has began to stabilize. The PBOC (People’s Bank of China) put forth an effort to support the weakness in the Yuan currency which helped move Asian markets to close in the positive.
Technicals
The SPY traded sharply lower for the majority of yesterday until a late day rally arrived into the close. Support will lie at the low of yesterday’s range at $189.82, followed by $189.12 and $186.93. Resistance will lie at the high of yesterday’s session at $193.41, followed by $195.85 and the heavy resistance zone between $197.40 – $197.60.
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**
LULU
GME
Economic Calendar
10:00 Nov JOLTS job openings expected +67,000 to 5.450 million
12:00 USDA Jan WASDE crop production
12:00 USDA Q4 quarterly grain stocks
1:00 Treasury auctions $24 billion 3-year T-notes
3:15 Richmond Fed President Jeffrey Lacker speaks on the U.S. economic outlook
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
