Monday May 8, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are just slightly lower this morning while European stocks trade lower by -0.5% after the French Presidential election came to a close with Macron defeating Le Pen. Asian stocks closed mostly lower.
Technicals
The SPY broke out to the upside after its recent period of consolidation throughout Friday’s session. Support will lie at the low of Friday’s range at $238.68, followed by gap entry at $237.81, gap fill at $237.41, the 20EMA at $237.15, then the beginning of a secondary gap at $236.61, followed by the 50SMA at $236.42 and finally the recent pivot point at $236.30. Resistance will lie at the high of Friday’s range at $239.72, followed 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**
$JD
Economic Calendar
10:00 Labor Market Conditions
Notable Earnings Before Open
Horizon Pharma (HZNP) – EPS Est. $0.25
JD.com Inc (JD) – EPS Est. $-0.05
Kite Pharma Inc (KITE) – EPS Est. $-1.68
Sysco (SYY) – EPS Est. $0.51
Tyson Foods (TSN) – EPS Est. $1.06
Notable Earnings After Close
Hertz Global (HTZ) – EPS Est. $-0.94
Marriott International (MAR) – EPS Est. $0.90
Pandora Media (P) – EPS Est. $-0.50
Tesoro (TSO) – EPS Est. $0.36
