Monday May 23, 2016
Economic Calendar & Watch Lists 5/23/2016
Morning Notes
US Futures are slightly lower this morning while European stocks trade lower by over -1% as new fears arise regarding the state of the global economy after Eurozone May markit PMI came in lower than expected. Asian markets closed mixed.
Technicals
The SPY closed back above the critical support pivot that lies at $205.25 to close out Friday’s session. Support will lie at the low of Friday’s range at $204.86, followed by $204.54 and $202.78. Resistance will lie at the resistance pivot at $205.25, followed by the 50 day SMA at $205.95, Friday’s high at $206.10, then $206.30, $206.80, and finally the upper resistance pivot at $207.
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**
VRX
Economic Calendar
8:00 San Francisco Fed President John Williams speaks
9:45 Prelim-May Markit manufacturing PMI expected +0.2 to 51.0
11:00 USDA weekly grain export inspections
3:00 USDA Apr Cold Storage
4:00 USDA Weekly Crop Progress
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE