Wednesday January 11, 2017
Economic Calendar & Watch List
US Futures are flat this morning while European stocks trade slightly higher after hitting weekly lows yesterday. Markets are awaiting President elect Trump’s first press conference which will be held later today. Markets will keep a close watch on what Trump has to say to pick up any clues of his intents to boost the economy. Asian stocks closed mostly mixed.
The SPY consolidated further throughout yesterday’s session after it initially tried to push higher. Support will lie at the low of yesterday’s range at $226.01, followed closely by $225.90, $225.48, and the recent support pivot at $224.89. Resistance will lie at the high of yesterday’s range at $227.45 which also coincides with descending resistance. Beyond the descending resistance lies more resistance at $227.75, $227.81, and all time highs at $228.34.
Small Cap Watch List
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**Others On Watch**
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10:30 EIA Weekly Petroleum Status Report
1:20 New York Fed President William Dudley Speaks
Notable Earnings Before Open
Notable Earnings After Close
KB Home (KBH) – EPS Est. $0.50