Friday July 21, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking relatively flat this morning while European markets drift slightly lower. The Nasdaq and S&P both hit record highs throughout this weeks sessions. Asian stocks are ending the week slightly negative.
Technicals
The SPY retested the former ascending resistance and held during yesterday’s session, again posting another record close. Support will lie at the low of yesterday’s range of $246.47 which coincides with the former ascending resistance. Support continues at $246.01, followed by the gap entry of $246.01, then gap fill of $245.72, then $244.67, $244.31, the 20 EMA at $244.01, $243.76, gap entry at $243.30, then gap fill at $242.55. Further support lies at the 50 SMA at $242.39, followed by $240.85, and the near term support pivot at $240.65. Resistance will lie at yesterday’s record high of $247.42.
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**
NONE
Economic Calendar
NONE
Notable Earnings Before Open
General Electric Company (GE) – Est EPS $0.25
Honeywell International Inc. (HON) – Est EPS $1.78
Colgate-Palmolive Company (CL) – Est EPS $0.72
Schlumberger N.V. (SLB) – Est EPS $0.30
Notable Earnings After Close
NONE
