Monday April 17, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking lower this morning on carryover from Thursday’s session as we approach 3 week lows. European markets are closed today amidst the Easter holiday. Asian stocks closed mostly mixed.
Technicals
The SPY drifted lower throughout Thursday’s session into the Easter holiday closing out on 2 week lows. Support will at the low of Thursday’s range at $232.51, followed by $231.61, $230.62, and the 100SMA at $230. Resistance will lie at the high of Thursday’s range at $234.49, followed by both the 50SMA and 20EMA at $235.02. Then, $234.96, $235.18, and then the recent pivot point at $236.30. Short term descending resistance falls at $237.10, followed by the remaining levels of resistance at $237.39, $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**
Economic Calendar
8:30 Empire State Manufacturing Index Est. 15.2
10:00 NAHB Housing Market Index Est. 70
Notable Earnings Before Open
NONE
Notable Earnings After Close
Barracuda Networks (CUDA) – EPS Est. $0.15
Netflix, Inc. (NFLX) – EPS Est. $0.37
United Airlines (UAL) – EPS Est. $0.34