Wednesday June 28, 2017
Economic Calendar & Watch List
Morning Notes
US stock futures are slightly up this morning with good comments from San Francisco Fed Pres. Williams. However, European stocks are down at a 2 month low. US gains are limited as tech stocks are still pulling on the market. Asian stocks settled mostly lower on the day.
Technicals
The SPY sold off throughout yesterday’s session, closing well below the 20EMA. Support will lie at the low of yesterday’s range at $241.31 followed by the the near term support pivot at $240.65, then $239.93, $239.51, $238.82, and the 50 SMA at $240.46. Resistance will lie at the 20 EMA at $242.61, followed by the high of yesterday’s range at $243.38, then $244.38, $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**
Economic Calendar
0830 ET May wholesale inventories expected +0.2%
1000 ET May pending home sales expected +1.0%
1030 ET EIA Weekly Petroleum Status Report
Notable Earnings Before Open
Paychex Inc (PAYX) – Est EPS $0.528
Monsanto Co (MON) – Est EPS $1.767
General Mills Inc (GIS) – Est EPS $0.711
Notable Earnings After Close
NONE
