Monday, September 12, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are tracking lower this morning again as European markets trade sharply lower by nearly -2%. Following the ECB meeting at the end of last week, it was clear that global central banks have put a hold on further economic stimulus along with continued rate hike concerns. The price of crude is lower by over -2%, weighing of energy producing stocks. Asian stocks closed lower.
Technicals
The SPY traded sharply lower on heavy volume throughout Friday’s session and closed on 2 month lows. Support will lie at the low of Friday’s range at $213.25, followed by $212.95 and the 100 day moving average at $212.03. Resistance will lie at the 50 day moving average at $216.37, followed by the high of Friday’s range at $217.03, then the upper resistance pivot at $217.30.
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**
$PRGO
Economic Calendar
11:00 USDA weekly grain export inspections
11:30 Treasury auctions $24B of 3-year T-notes
12:00 USDA Sep WASDE crop production
1:00 Minneapolis Fed President Neel Kashkari speaks
1:00 Treasury auctions $23B of 10-year T-notes
1:15 Fed Governor Lael Brainard
4:00 USDA Weekly Crop Progress
Notable Earnings Before Open
NONE
Notable Earnings After Close
UNFI: United Natural Foods – EPS Est. $.62, Rev Est. $2.22B
