Wednesday August 9, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are down this morning along with European shares with escalating tensions between the US and North Korea. This comes after the SPY hit record highs during yesterday’s session and sold off sharply into late trading. Asian stocks settled mostly lower.
Technicals
The SPY opened just above the ascending resistance trendline during Tuesday’s session and posted record highs before drifting back lower to close back below this significant trendline. Support will lie at the low of Tuesday’s range at $246.83, followed by $246.64, $246.37, the 20 EMA at $246.32, then $246.13, the short term pivot point at $245.70, continued with $244.67, the 50 SMA at $244.40, and $244.31. Further support lies at $243.76, then gap entry at $243.30 and gap fill at $242.55. Resistance will lie at the record high of Tuesday’s range at $248.91.
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 Productivity and Costs
1030 EIA Weekly Petroleum Status Report
1300 Fed Pres. Evans Speaks
Notable Earnings Before Open
Mylan N.V. (MYL) – EPS Est. $1.19
Weibo (WB) – EPS Est. $0.31
Children’s Place (PLCE) – EPS Est. $0.74
Notable Earnings After Close
Twenty-First Century Fox (FOXA) – EPS Est. $0.34
Jack In The Box (JACK) – EPS Est. $1.06
