Thursday March 23, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking slightly higher this morning ahead of the U.S. House of Representatives scheduled vote on the American Health Care Act which is being proposed to replace Obamacare. Also on watch today is Fed Chair Janet Yellen’s speech this morning at a development conference in Washington. European stocks are trading slightly higher along with Asian stocks finishing positive.
Technicals
The SPY traded slightly higher throughout yesterday’s session after Tuesday’s sharp decline. Support will lie at the low of yesterday’s range at $233.05, followed by the 50 day moving average at $232.45, then $232.16, $231.77, and $230.62. Resistance will lie at the high of yesterday’s range at $234.61, followed by the 20 day EMA at $236.21, then $237.61, $237.97, $238.10, $239.20, $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**
$PVH
Economic Calendar
8:00 Fed Chair Janet Yellen speaks
8:30 Weekly initial unemployment claims expected -1,000 to 240K
8:30 USDA weekly Export Sales
10:00 Feb new home sales expected +1.8% to 565K
11:00 March Kansas City Fed manufacturing activity expected unchanged at 14
12:30 Minneapolis Fed President Neel Kashkari speaks
1:00 Treasury auction
Notable Earnings Before Open
Accenture (ACN) – EPS Est. $1.30
ConAgra Brands (CAG) – EPS Est. $0.44
Notable Earnings After Close
KB Home (KBH) – EPS Est. $0.13
Micron Technology (MU) – EPS Est. $0.84
