Friday January 20, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking slightly higher this morning while European markets also trade slightly higher after China released their Q4 GDP which grew more than expected, which signals a stronger global economy. Markets are awaiting the inauguration of President elect Trump and his speech later today. Asian stock closed mostly mixed.
Technicals
The SPY traded lower towards the close of yesterday’s session on slightly increased volume. Support will lie at the low of yesterday’s range at $225.41, followed by the recent support pivot at $224.89, then $223.88 and the 50 day moving average at $222.94. Resistance will lie at the high of yesterday’s range at $227, followed by the short term descending resistance at $227.20, then $227.45, $227.75, $227.81, and all time 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**
$SWKS
Economic Calendar
9:00 Philadelphia Fed President Patrick Harker speaks
TBD: President Elect Donald Trump Speaks
Notable Earnings Before Open
General Electric (GE) – EPS Est. $0.46
Kansas City Southern (KSU) – EPS Est. $1.17
Procter & Gamble (PG) – EPS Est. $1.06
Schlumberger Ltd. (SLB) – EPS Est. $0.27
Synchrony Financial (SYF) – EPS Est. $0.67
Notable Earnings After Close
NONE
