Friday December 23, 2016
Economic Calendar & Watch List
US Futures are unchanged while European stocks trade relatively flat in quiet holiday trading. European losses were contained by strength in banking stocks after Deutsche Bank agreed to pay $7.2B to settle an investigation into mortgage backed securities. Asian stocks closed predominantly lower.
The SPY drifted lower on light volume throughout yesterday’s session and closed back below its 9EMA. Support will lie at the low of yesterday’s range at $224.92, followed by $224.67, $224.26, and $221.38. Resistance will lie at the high of yesterday’s range at $225.77, followed by $226.45, $226.57, $227.81, $227.81, $228.23, and record highs at $228.34.
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**
10:00 New Home Sales Est. 575K
10:00 Revised Consumer Sentiment Est. 98.2
10:00 Revised Inflation Expectations
Notable Earnings Before Open
Notable Earnings After Close