Tuesday July 12, 2016
Economic Calendar & Watch Lists 7/12/2016
Morning Notes
US Futures are pushing to more new all time highs after Alcoa (AA) posted better than expected earnings after yesterday’s close. Global markets are also exhibiting strength as Europe is trading higher by over 1%, the Nikkei jumped +386 points, the Shanghai moved nearly +2%, or 54 points higher, and finally the Hang Seng ended up by +344 points.
Technicals
The SPY surged through all time highs in yesterday’s session and is gapping higher yet again in the pre market session. Support will lie at the high of yesterday’s range at $214.07, followed by the low of yesterday’s range at $212.94, and then the low of Friday’s range at $210.78. There is no identifiable points of significant resistance in close proximity to the current position of the SPY.
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**
$SAGE
$STX
Economic Calendar
10:00 Wholesale Inventories – Est. .02%
10:00 May JOLTS job openings
1:00 Treasury auctions $20 billion of 10-year T-notes
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE