Economic Calendar & Watch List 8/23/2017

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Wednesday August 23, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures along with European shares are lower in early trading. President Trump, in a rally last night, made reference to terminating NAFTA (North American Free Trade Agreement) sparking global trade concern. The President also mentioned the possibility of a government shutdown to win funding for the Mexico border wall. Asian stocks settled mostly mixed.

 

Technicals

The SPY gapped up to start yesterday’s session and exhibited strength throughout the day crossing back above its 50SMA to then find resistance at its 20EMA along with the recent pivot. Support will lie at the low of yesterday’s range and gap entry at $243.55, followed by gap fill at $243.20, then $241.83, the 100SMA at $241.68, then $240.85, and the recent support pivot at $240.65. Resistance will lie at the high of yesterday’s range at $245.62, followed by $246.60, ascending resistance at $248.12 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

0905  Fed Pres. Kaplan Speaks

0945  PMI Composite Flash for August, est. 53.4

1030  EIA Weekly Petroleum Status Report

 

Notable Earnings Before Open
Lowe’s (LOW) – EPS Est. $1.62

 

Notable Earnings After Close

HP (HPQ) – EPS Est. $0.42

PVH (PVH) – EPS Est. $1.65

Williams-Sonoma (WSM) – EPS Est. $0.59

 

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