Monday July 31, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are edging higher this morning while European stocks also push higher as optimism in global momentum gains momentum. China manufacturing PMI, Japan industrial production both rose more than expected while the Eurozone unemployment rate dropped to an 8 year low of 9%. Asian stocks closed mostly mixed.
Technicals
The SPY broke back below the ascending resistance and held below throughout Friday’s session. Support will lie at the low of Friday’s range at $246.13, followed by a short term pivot point at $245.70. Support continues at the 20 EMA at $245.36, followed by $244.67, $244.31, $243.76 and the 50 SMA at $243.36. Further support lies at the gap entry at $243.30, then gap fill at $242.55. Resistance will lie at the record highs 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**
$DVAX
Economic Calendar
9:45 July Chicago PMI expected -5.7 to 60
10:00 June pending home sales expected +1.0%
10:30 July Dallas Fed manufacturing activity expected -2.0 to 13
11:00 USDA weekly grain export inspections
Notable Earnings Before Open
DIAMOND OFFSHORE (DO) – EPS Est. 0.24
INTERCEPT (ICPT) – EPS Est. -3.62
SANOFI (SNY) – EPS Est. 0.74
SOHU.COM (SOHU) – EPS Est. -1.73
Notable Earnings After Close
PANDORA MEDIA (P) – EPS Est. -0.39
SILICON MOTION (SIMO) – EPS Est. 0.73
US SILICA HOLDI (SLCA) – EPS Est. 0.37
ZIOPHARM (ZIOP) – EPS Est. -0.13