Tuesday June 27, 2017
Economic Calendar & Watch List
Morning Notes
US stock futures and European stocks point lower this morning with weakness in tech stocks lead by Alphabet and with the awaiting appearance by the Federal Reserve Chair Janet Yellen. Investors are hoping to get more information on the expectations for the next interest rate hike. Asian stocks closed mixed on the day.
Technicals
The SPY attempted to push back higher initially in yesterday’s session to then later give back those gains into the late afternoon. Support will lie at the low of yesterday’s range at $243.04, followed by the 20 EMA at $242.74 then $242.47, $241.63, the near term support pivot at $240.65. Support continues at $239.93, $239.51, $238.82, and the 50 SMA at $240.32. Resistance will lie at the high of yesterday’s range at $244.38, 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**
$ALDR
Economic Calendar
0330 ET San Francisco Fed President John Williams (non-voter) speaks at the Macquarie University
1000 ET Jun Richmond Fed manufacturing index expected +7 to 6
1030 ET Philadelphia Fed President Patrick Harker (voter) speaks on the economic outlook and international trade
1300 ET Fed Chair Janet Yellen speaks on global economic issues
1730 ET Minneapolis Fed President Neel Kashkari (voter) speaks at a town hall event
Notable Earnings Before Open
Darden Restaurants Inc (DRI) – Est EPS $1.155
Notable Earnings After Close
NONE
