Monday June 5, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are slightly lower this morning as stocks consolidate after the recent rally to record highs. European stocks are trading slightly lower on speculation that the UK PM will not receive majority ahead of the Brexit negotiations this Thursday. Asian stocks closed mostly lower.
Technicals
The SPY continued to surge to more new record levels on increased volume throughout Friday’s session. Support will lie at the low of Friday’s range at $243.08, followed by $241.64, the near term support pivot at $240.65, the 20 EMA at $240.26, then $239.93, $239.51, $238.82, and the 50 SMA at $237.55. Resistance will lie only at the record highs of Friday’s range at $244.35.
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**
$SINA
$PBYI
Economic Calendar
8:30 Revised Q1 non-farm productivity expected -0.2%
9:45 Revised May Markit services PMI
10:00 May ISM non-manufacturing PMI expected -0.6
10:00 Apr factory orders expected -0.2%
Notable Earnings Before Open
JinkoSolar (JKS) – EPS Est. 0.48
Notable Earnings After Close
Coupa Coftware (COUP) – EPS Est. -0.25
Thor Industries (THO) – EPS Est. 1.87
