Monday June 27, 2016
Economic Calendar & Watch Lists 6/27/2016
Morning Notes
US futures are tracking lower this morning along with European markets hitting 4 month lows on carryover from Friday’s move on the Brexit decision. Asian markets rebounded slightly led by Japan’s Nikkei closing higher by 357 points, or +2.4%
Technicals
The SPY sold sharply lower in Friday’s session on extreme relative volume as it closed in on the 200 day moving average. This morning, the SPY is gapping lower back below its 200 day moving average and support will lie at the lower critical support pivot at $200.05, followed by $197.38 and $197.25. Resistance will lie at $201.05, $201.55, $210.74, and the daily 200 day moving average at $202.13.
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**
$GWPH
$CCL
Economic Calendar
8:30 Goods Trade Balance Est. -59.5B
9:45 Services PMI Est. 52
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
June 27th Swing Watch List
$EXAS – Long entry over 11.70, add spot over 12. Target is 12.45 gap opening, then 17 or so. Stop will be 11.00.
$SON – On short watch for a move as this taps support yet again in a week market. A break of support at 46.50 could move us to 45. Short entry is under 46.60, stop 47.25.
