Tuesday August 15, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are edging moderately higher this morning along with European shares as tensions continue to subside between the US and North Korea. Global markets are gaining on this news, as well. Asian stocks again closed mostly higher.
Technicals
The SPY gapped up to open Monday then consolidated and closed above the Thursdays range high. Support will lie at the low of Monday’s range and gap entry at $245.55, gap fill at $244.8, then $243.75, followed by $243.70. Support continues with the gap entry at $243.30 and gap fill at $242.55, then the 100 SMA at $241.09. Resistance will lie at the Monday’s range high of $246.79, followed by $247.31, the ascending resistance at $247.72 and the 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
0830 Retail Sales, est. 0.3%
0830 Empire State Manufacturing Survey, est. 9.8
0855 Redbook
1000 Business Inventories, est. 0.4%
Notable Earnings Before Open
Home Depot (HD) – EPS Est. $2.21
TJX Companies (TJX) – EPS Est. $0.84
Advance Auto Parts Inc (AAP) – EPS Est. $1.65
Notable Earnings After Close
Urban Outfitters (URBN) – EPS Est. $0.38
