Tuesday August 29, 2017
Economic Calendar & Watch List
US Futures and European stocks are trading lower this morning as worries over North Korea shake the markets. North Korea launched a missile over Japan yesterday afternoon placing investors on edge. This has sent investors into safe havens, such as gold and treasuries. Asian stocks settled mostly lower.
The SPY traded on light volume during yesterday’s session finding resistance at the 50SMA and closed the day back below. Support will lie at the low of yesterday’s range at $244.09, followed by $243.75, then gap entry at $243.55, gap fill at $243.20, the 100SMA at $242.04, then $241.83, $240.85, and the recent support pivot at $240.65. Resistance will lie at the high of yesterday’s range at $245.20, then the recents swing high pivot at $245.62, followed by $246.60, ascending resistance at $248.38 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**
1000 Consumer Confidence, expected 120
Notable Earnings Before Open
Best Buy (BBY) – EPS Est. $0.63
Hain Celestial (HAIN) – EPS Est. $0.40
Notable Earnings After Close
H&R Block (HRB) – EPS Est. $-0.63