Monday, September 26, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are tracking lower this morning while European stocks are trading sharply lower by nearly -1.5% on news that Deutsche Bank AG potentially will need to raise capital. Deutsche Bank in Germany’s largest bank and Germany is the largest economy in the Eurozone. Asian stocks closed mostly lower.
Technicals
The SPY tested its 50 day moving average on Friday and traded lower throughout the majority of the session. Support will lie at the low Friday’s range at $215.88, followed by ascending support at $213.80 – $214, then $213.44 and $213.88. Resistance will lie at the high of Friday’s range at $216.88, followed closely by the 50 day moving average at $216.93, the upper resistance pivot at $217.30, then $217.53 and $218.15.
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**
$CALM
$SRPT
Economic Calendar
10:00 August new home sales expected -8.3% to 600K
10:30 September Dallas Fed manufacturing activity expected +3.2 to -3.0
11:00 USDA weekly grain export inspections
11:45 Fed Governor Daniel Tarullo delivers speech
1:30 Dallas Fed President Robert Kaplan speaks
4:00 USDA Weekly Crop Progress
Notable Earnings Before Open
CALM: Cal-Maine Foods – EPS Est. $(.45), Rev Est. $261.60M
Notable Earnings After Close
NONE
