Wednesday December 14, 2016
Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat this morning while European stocks trade slightly higher as markets await today’s FOMC interest rate decision at 2 PM EST. Energy producing stocks are under pressure as the price of crude slides by -1.5% after the API report late yesterday showed a surplus for the prior week. Asian stocks closed mostly mixed.
Technicals
The SPY pivoted higher again yesterday after its brief consolidation throughout Monday’s session, posting more record highs. Support will lie at the low of yesterday’s range at $227, followed by $225.76, $225.41, $224.26, and $221.38. Resistance will lie only at the high of yesterday’s range at $228.34.
Small Cap Watch List
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**Others On Watch**
TBD
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Economic Calendar
8:30 November retail sales expected +0.3% and +0.4% ex auto
8:30 November PPI final demand expected +0.1%
9:15 November industrial production expected -0.3%
10:00 October business inventories expected -0.1%
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC rate decision
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
