Friday, September 16, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are tracking modestly lower this morning while European stocks are under pressure trading lower by over -1% which is being led by banking stock Deutsche Bank. Deutsche received a 14B claim from the Justice Department for settlement of an investigation into the sale of mortgage backed securities. Asian stocks closed mostly higher.
Technicals
The SPY surged higher off the double bottom formation in yesterday’s session, closing out just off the intra day highs. Support will lie at the low of yesterday’s range at $212.75, followed by the double bottom formation at $212.50, then $212.31 and the 100 day moving average at $212.25. Resistance will lie at the high of yesterday’s range at $215.73, followed by the 50 day moving average at $216.78, then $216.81 and $217.03.
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**
$ORCL
$DEPO
Economic Calendar
8:30 Aug CPI expected +0.1% m/m
10:00 Prelim September University of Michigan U.S. consumer sentiment expected +0.8 to 90.6
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE