Wednesday June 21, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are down this morning along with European stocks as energy stocks are under continued pressure as production gains in Libya and the US offset the OPEC production cuts. Oil prices in US fell nearly 2% after crude entered a bear market. Asian stocks closed down.
Technicals
The SPY drifted lower throughout yesterday’s session while consolidation continues at higher prices. Support will lie at the low of yesterday’s range at $242.99, followed by the $242.83, the 20 EMA at 242.59, 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 $239.62. Resistance will lie at the high of yesterday’s range at $244.26, followed by $244.73, $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**
$RHT
$ADBE
Economic Calendar
1000 ET May existing home sales
1030 ET EIA Weekly Petroleum Status Report
Notable Earnings Before Open
CarMax Inc (KMX) – EPS Est. 0.978
Notable Earnings After Close
Oracle Corp (ORCL) – EPS Est. 0.784
