Tuesday May 30, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking slightly lower while European stocks also trade lower by -0.4% ahead of key US economic data will strengthen the FOMC decision to raise interest rates at their next meeting. Weakness in crude oil, -0.65%, is weighing on energy producing names and leading markets lower. Asian stocks closed mostly mixed.
Technicals
The SPY consolidated on anemic volume throughout Friday’s session after a over a week long rally to new record highs. Support will lie at the low of Friday’s range at $241.45, followed by $240.96, $240.73, $239.93, $239.51, the 20 EMA at $239.12, then $238.82, $237.27, and the 50 SMA at $236.97. Resistance will lie only at the high of Friday’s range at $241.90 and record highs at $242.08.
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**
Nothing has presented a viable technical setup as of yet. Join us live in chat for the latest updates and alerts!
Economic Calendar
8:30 April personal spending expected +0.4%
9:00 March S&P CoreLogic composite 20 home Price index expected +0.9%
10:00 May consumer confidence expected -0.4
10:30 May Dallas Fed manufacturing activity expected -1.8
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
