Wednesday June 7, 2017
Economic Calendar & Watch List
US Futures are relatively flat this morning while European stocks trade higher by +0.5% after the ECB said it would slash its inflation forecast and boost its GDP expectations. Asian stocks closed mostly mixed across the board.
The SPY drifted slightly lower throughout yesterday’s session after posting record highs earlier in the week. Support will lie at the low of yesterday’s range at $243.12, followed by $243.08, $241.64, the 20 EMA at $240.84, the near term support pivot at $240.65, then $239.93, $239.51, $238.82, and the 50 SMA at $237.93. Resistance will lie at the high of yesterday’s range at $243.98, followed by $244.30, and 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**
10:30 EIA Weekly Petroleum Status Report
3:00 Apr consumer credit expected +$15B
Notable Earnings Before Open
Notable Earnings After Close