Friday, August 26, 2016
Economic Calendar & Watch Lists
US Futures are relatively flat this morning while European markets are trading slightly lower ahead of Fed Chair Janet Yellen’s speech from Jackson Hole at 10:00 AM EST. Asian stocks closed mostly mixed.
The SPY traded lower throughout yesterday’s session, tested the upper support pivot at $217.30 and closed back above. Support will first lie at the upper support pivot at $217.30, followed by the low of yesterday’s range at $217.22, then $217.02, $216.78, and $215.83. Resistance will lie at the high of yesterday’s range at $218.19, then $218.91, and all time highs at $219.60.
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 Revised Q2 GDP expected +1.1%
8:30 July wholesale inventories expected +0.1%
10:00 Final-Aug University of Michigan U.S. consumer sentiment index expected +0.4 to 90.8
10:00 Fed Chair Janet Yellen speaks at the Jackson Hole Policy Symposium
Notable Earnings Before Open
BIG: Big Lots – EPS Est. $.45, Rev. Est. $1.22B
Notable Earnings After Close