Monday July 11, 2016
Economic Calendar & Watch Lists 7/11/2016
Morning Notes
US Futures are tracking higher as markets approach all time highs. European stocks are trading higher by over +1% while Asian stocks showed strength over night as the Nikkei pushed over 600 points, or 4%, higher along with the Hang Seng moving jumping by over 300 points.
Technicals
The SPY surged higher in Friday’s session and closed out just off the intraday highs while also approaching its all time high at $213.78. Support will lie at the low of Friday’s range at $210.78, followed by $210.65, the former macro resistance which now becomes support at $209, $208.63, and the 50 day moving average at $207.79. Resistance will lie at the high of Friday’s range at $212.94, $213.18, $213.34, and $213.78.
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**
Economic Calendar
10:00 FOMC Member George Speaks
10:00 Labor Market Conditions
Notable Earnings Before Open
OZRK: Bank of the Ozarks – EPS Est. $.58, Rev Est. $163.84M
Notable Earnings After Close
AA: Alcoa – EPS Est. $.09, Rev Est. $5.2B