Friday April 21, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat to slightly higher this morning after better than expected earnings from GE and HON. European stocks are in quiet trade ahead of round 1 of the French presidential election. Asian stocks closed mostly higher after the BOJ said it maintain its monetary policy and would continue its asset purchases for the foreseeable future.
Technicals
The SPY broke back above the 20EMA as well as testing the 50SMA throughout yesterday’s session. Support will lie at the 20EMA at $234.80, followed by the low of yesterday’s range at $233.78, then $233.18, $233.08, $232.88, $232.51, $231.61, $230.62, and the 100SMA at $230.58. Resistance will lie at the 50SMA at $235.46, followed by the high of yesterday’s range at $235.85, and the recent pivot point at $236.30. Short term descending resistance falls at $236.80, 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**
$MAT
Economic Calendar
9:30 Minneapolis Fed President Neel Kashkari
9:45 April Markit manufacturing PMI expected +0.2
10:00 March existing home sales expected +2.2%
Notable Earnings Before Open
General Electric (GE) –EPS Est. $0.17
Honeywell (HON) – EPS Est. $1.62
Schlumberger Ltd. (SLB) – EPS Est. $0.25
Stanley Black & Decker (SWK) – EPS Est. $1.20
Notable Earnings After Close
NONE
