Friday, August 5, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are tracking slightly higher this morning along with European stocks as renewed speculation that global banks will continue and potentially increase stimulus measures to support the global economy. Asian stocks closed mixed.
Technicals
The SPY has attempted to break out of the recent consolidation but reclaimed that consolidation range during yesterday’s session which may suggest further consolidation and potentially higher prices. Support will lie at the low of yesterday’s range at $215.83, followed by $215.13 and $214.57. Resistance will lie at the high of yesterday’s range at $216.78, followed closely by $216.83, the $217.30 pivot, and all time highs at $217.65.
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
8:30 July non-farm payrolls expected +180,000
8:30 July avg hourly earnings expected +0.2% m/m and +2.6% y/y
8:30 Jun trade balance expected -$43.0B
2:00 Jun consumer credit expected +16.0B
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE