Friday, September 2, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are slightly higher this morning while European markets trade higher by roughly +.75% as markets await the monthly Jobs/payroll data. Energy producing stocks are trading
higher as the price of crude edges higher early. Asian stocks closed mostly mixed.
Technicals
The SPY was under pressure again throughout the majority of yesterday’s session but managed to rally back into late day trading and close back above the upper range support pivot that lies at $217.30. Support will lie at the upper range support pivot at $217.30, followed by the low of yesterday’s range at $216.03, then $215.83, former ascending support at $215.40, $215.13, and the 50 day moving average at $215.08. Resistance will lie at the high of yesterday’s range at $217.73, followed closely by $217.75, then $218.59, $218.66, $219.12, 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**
$LULU
$PAY
Economic Calendar
8:30 August non-farm payrolls expected +180,000
8:30 August avg hourly earnings expected +0.2% m/m and +2.5% y/y
8:30 July trade balance expected -$41.5B
9:45 August New York ISM
10:00 July factory orders expected +2.0%
1:00 Richmond Fed President Jeffrey Lacker speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
