Monday March 20, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking slightly lower this morning while European stocks also trade in the negative by -0.4%. The price of crude slides lower by -1.2% after the Baker Hughes data released on Friday showed US oil rigs at nearly 18 month highs which is weighing on energy stocks. Recent weakness in the dollar and strength in gold can be attributed to President Trump’s administrations comments on restructuring trade with other countries. Asian stocks closed mostly mixed.
Technicals
The SPY pulled drifted back lower throughout Friday’s session, closing out on the lows. Near term support will lie at the low of Friday’s range at $237.03, followed by $236.19, $235.74, $235.41, and $235.09. Resistance will lie at the high of Friday’s range at $237.97, followed by $238.10, $239.44, $239.57 and record highs at $240.32.
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**
$ESPR
Economic Calendar
8:30 February Chicago Fed national activity index
11:00 USDA weekly grain export inspections
1:10 Chicago Fed President Charles Evans
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
