Monday December 5, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are tracking higher this morning while European stocks are trading sharply higher by over +1.2% after Italy voted against their Prime Minister’s reforms to which then he announced his resignation. European stocks initially sold off on the news led by the Italian banks to then recover and rally. Asian stocks closed mostly lower.
Technicals
The SPY traded slightly lower throughout Friday’s session but managed to hold above the most recent support pivot at $219.25. Support will lie at low of Friday’s range at $219.26, followed closely by the recent support pivot at $219.25, then $219, $218.29, $217.92, and $217.42. Resistance will lie at the high of Friday’s range at $220.25, followed by $220.73, and record highs at $221.82.
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**
Economic Calendar
9:10 Chicago Fed President Charles Evans speaks
9:45 Revised November Markit services PMI expected +0.1 to 54.8
10:00 November ISM non-manufacturing PMI expected +0.7 to 55.5
2:05 St. Louis Fed President James Bullard speaks
4:00 USDA Weekly Crop Progress
Notable Earnings Before Open
GW Pharma (Nasdaq: GWPH) – consensus loss $1.58
Notable Earnings After Close
NONE
