Economic Calendar & Watch List 8/16/17

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Wednesday August 16, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are edging higher this morning while European stocks are trading higher by nearly +1% after Eurozone GDP rose at the expected pace along with the UK posting a large decline in jobless claims, triggering global optimism which is giving markets a boost early. Asian stocks closed mostly mixed.

 

Technicals

The SPY tested the 20EMA which held as lows throughout yesterday’s session, consolidating just below Monday’s range close. Support will lie at the low of yesterday’s range at $246.16, followed by the 20EMA at $246.07, gap entry at $245.55, followed by gap fill at $244.80, then the 50SMA at $244.68. Support continues at $243.75, followed by $243.70, gap entry at $243.30 and gap fill at $242.55, and finally the the 100SMA at $241.21. Resistance will lie at the high of yesterday’s range at $247, followed by $247.31, the ascending resistance at $247.80 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

1030  EIA Weekly Petroleum Status Report

1400  FOMC Meeting Minutes

 

Notable Earnings Before Open
Target (TGT) – EPS Est. $1.21

 

Notable Earnings After Close

Cisco (CSCO) – EPS Est. $0.55

L Brands (LB) – EPS Est. $0.45

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