Monday January 23, 2017
Economic Calendar & Watch List
US Futures are tracking slightly lower this morning while European stocks also trade in the negative approaching 3 week lows. The price of crude slips over -1% as an increase in production as oil rigs have hit the highest level in over a year, putting pressure on energy producing stocks. Asian stocks closed mostly mixed.
The SPY traded in a tight consolidated range throughout Friday’s session, creating choppy markets. Support will lie at the low of Friday’s range at $225.97, followed by $225.41. The recent support pivot at $224.89, then $223.88 and the 50 day moving average at $223.21. Resistance will lie at the short term descending resistance at $227.11, followed by the high of Friday’s range at $227.31, followed by $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**
Notable Earnings Before Open
Halliburton (HAL) – EPS Est. $0.01
McDonald’s (MCD) – EPS Est. $1.41
Notable Earnings After Close