Tuesday, September 6, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are relatively flat this morning while European markets trade slightly higher as the price of crude jumps nearly +1.3% after comments out of Saudi Arabia and Russia that they will aid in supporting the stabilization efforts of the global oil markets. Asian stocks closed closed mostly higher.
Technicals
The SPY traded back above the pivot throughout Friday’s session and closed out slightly higher going into the holiday weekend. Support will lie at the low of Friday’s range at $217.70, followed by the upper range support pivot at $217.30, then $216.03, $215.83, former ascending resistance at $215.40, and the 50 day moving average at $215.23. Resistance will lie at the high of Friday’s range at $218.87, followed by $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**
$NAV
$REN
Economic Calendar
9:45 Revised August Markit services PMI expected +0.2 to 51.1
10:00 August ISM non-manufacturing PMI expected -0.2 to 55.3
11:00 USDA weekly grain export inspections
4:00 USDA Weekly Crop Progress
Notable Earnings Before Open
MRVL: Marvell Technology – EPS Est. $.11, Rev Est. $629.61M
Notable Earnings After Close
NONE
