Tuesday June 6, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking modestly lower this morning while European stocks also trade lower by over -0.50% as investors thin positions ahead of key events taking place later in the week. Markets await the election in the UK with regard to Brexit, the ECB meeting and finally former FBI chief Comey as he testifies to Congress. Asian stocks closed mostly mixed.
Technicals
The SPY tested record highs to then drift lower on light volume throughout yesterday’s session. Support will lie at the low of yesterday’s range at $243.76, followed by $243.08, $241.64, the near term support pivot at $240.65, the 20 EMA at $240.60, then $239.93, $239.51, $238.82, and the 50 SMA at $237.75. Resistance will lie at the highs of yesterday’s range at $244.30, followed by the record highs 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**
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Economic Calendar
10:00 Apr JOLTS job openings expected -5,000 to 5.738M
Notable Earnings Before Open
Canadian Solar (CSIQ) – EPS Est. -0.01
G-III Apparel (GIII) – EPS Est. -0.37
HD Supply (HDS) – EPS Est. 0.65
Notable Earnings After Close
Ambarella (AMBA) – EPS Est. 0.03
Dave & Busters (PLAY) – EPS Est. 0.80
