Friday August 25, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are modistly up in early trading. Investors are awaiting speeches from Fed Chair Yellen and ECB Draghi today at the global central bankers summit. In weather news, Hurricane Harvey strengthened into a Cat 2 storm and is charging into the coast of Texas. Asian stocks settled mostly higher to end the week.
Technicals
The SPY again found resistance at its 20EMA then consolidated between its 50SMA and the lows of Wednesday closing just below to end yesterday’s session. Support will lie at the low of yesterday’s range at $243.75, followed by gap entry at $243.55, gap fill at $243.20, the 100SMA at $241.85, then $241.83, then $240.85, and the recent support pivot at $240.65. Resistance will lie at the high of yesterday’s range at $245.18, followed by $245.62, $246.60, ascending resistance at $248.21 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
1000 Fed Chair Yellen Speaks
1300 Baker-Hughes Rig Count
1500 ECB Draghi Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE