Monday, August 15, 2016
Economic Calendar & Watch Lists
US Futures are tracking modestly higher to new all time highs while European markets trade higher nearing 3 month highs as Chinese stocks closed sharply higher by +2.4%. The price of crude oil edged higher overnight after Russia said it would cooperate with OPEC to aid in the balance of world oil markets.
The SPY traded on an inside day throughout Friday’s session while consolidating at higher prices. Support will lie at the low of Friday’s range at $217.99, followed by $217.95, the upper support pivot at $217.30, then $217.23, $217.07, $216.78, and $215.83. Resistance will lie at the high of Friday’s range at $218.71, followed by all time highs at $218.94.
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**
8:30 Aug Empire manufacturing survey business conditions expected +1.45 to 2
10:00 Aug NAHB housing market index expected +1 to 60
11:00 USDA weekly grain export inspections
4:00 USDA Weekly Crop Progress
Notable Earnings Before Open
Notable Earnings After Close