Friday August 11, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are drifting lower this morning while European stocks trade lower by nearly -1%. Heightened volatility and tensions with North Korea continue to weigh on markets. President Trump gave a strict warning to North Korea to refrain from missile tests near Guam. Asian stocks tumbled to end the week.
Technicals
The SPY sold off on accelerated volume throughout yesterday’s session, ending on the lows. Support will lie at the low of yesterday’s range at $243.70, followed by gap entry at $243.30 and gap fill at $242.55. Support continues at $240.85 and the 100 SMA as well at $240.85. Resistance will lie at the 20 EMA at $246.16, followed by the the high of yesterday’s range at $246.44, $247.25, the ascending resistance at $247.6 and record highs 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
8:30 July CPI expected +0.2%
9:40 Dallas Fed President Robert Kaplan speaks
11:30 Minneapolis Fed President Neel Kashkari speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE