Monday January 30, 2017
Economic Calendar & Watch List
US Futures are tracking lower this morning while European stocks trade lower by nearly -1% on concerns of global trade under President Trump. Speculators believe that Trump’s policies could greatly restrict commerce between many international countries and the U.S. Asian stocks closed predominantly lower.
The SPY consolidated further throughout Friday’s session, closing slightly lower. Support will lie at the low of Friday’s range at $228.76, followed by $228.51, $228.34, $228.08, the former descending resistance at $226.80, then $226.27 and $225.27. Resistance will lie at the high of Friday’s session at $229.59, followed by all time highs at $229.71.
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**
8:30 December personal spending expected +0.5%
8:30 December PCE deflator expected +0.2% m/m
10:00 December pending home sales expected +1.1% m/m
10:30 January Dallas Fed manufacturing activity expected -0.5 to 15
Notable Earnings Before Open
Notable Earnings After Close