Tuesday June 20, 2017
Economic Calendar & Watch List
US Futures are relatively flat this morning while European stocks edge just slightly higher as energy stocks are under pressure as the price of crude dips by over -1.7% as worries that a global oil surplus is increasing, mainly due to the Libyan oil output. Asian stocks closed mostly mixed.
The SPY moved back higher throughout yesterday’s session after testing the 20 EMA Friday. Support will lie at the low of yesterday’s range at $243.48, followed by the $242.83, the 20 EMA at 242.55, then the low of Friday’s range at $241.63, the near term support pivot at $240.65, then $239.93, $239.51, $238.82, and the 50 SMA at $239.51. Resistance will lie at the high of yesterday’s range at $244.73 followed closely by $244.87, and the record highs at $245.01.
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**
8:30 Q1 current account balance expected -$123.6B
3:00 Dallas Fed President Robert Kaplan speaks
Notable Earnings Before Open
Lennar Corp (LEN) – EPS Est.0.78
Notable Earnings After Close
Adobe (ADBE) – EPS Est. 0.77
FedEx (FDX) – EPS Est. 3.89
La-Z-Boy INC (LZB) – EPS Est. 0.46
Red Hat (RHT) – EPS Est. 0.34