Economic Calendar & Watch List 7/28/2017

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Friday July 28, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures and European markets are trending lower this morning after setting record highs in early Thursday trading. A big miss in earnings by Amazon (AMZN) sent ripples through the global markets.  US Senate Republican leaders failed to repeal the ACA in an early Friday session. Asian stocks closed the week mostly lower.

 

Technicals

The SPY

 posted record highs early in yesterday’s session then sold off sharply bouncing off the 245.72 support and consolidating at the ascending resistance trend line. Support will lie at the low of yesterday’s range at $245.72 which creates a short term pivot point. Support continues at the 20 EMA at $245.21, followed by $244.67, $244.31 and $243.76. Further support lies at the gap entry at $243.30, the 50 SMA at $243.13, then gap fill at $242.55. Resistance will lie at the record highs of yesterday’s session at $248.

 

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**

$FSLR

$SBUX

$WDC

 

Economic Calendar

0830 Q2 GDP, expected +2.5%

1000  Michigan consumer sentiment expected 93.1

1300  Baker-Hughes Rig Count

1320  Fed President Kashkari speaks

 

Notable Earnings Before Open

MERCK & CO (MRK) – EPS Est. 0.87

ABBVIE INC (ABBV) – EPS Est. 1.40

AMERICAN AIRLINES (AAL) – EPS Est. 1.87

 

Notable Earnings After Close
NONE

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