Economic Calendar & Watch List 8/30/2017

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Wednesday August 30, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures and European shares are higher this morning after tensions ease over North Korea latest missile launch. Over 18% of the US refining capacity has been taken offline by Hurricane Harvey, however West Texas crude prices have dropped since landfall of the storm.  Asian stocks settled mostly higher.

 

Technicals

The SPY opened sharply lower to fill the recent gap and rallied throughout yesterday’s session to find resistance at Monday’s highs and close back above the 50EMA. Support will lie at the low of yesterday’s range at $242.93, followed by the 100SMA at $242.13, then $241.83, $240.85, and the recent support pivot at $240.65. Resistance will lie at the high of yesterday’s range at $245.15, then the recent swing high pivot at $245.62, followed by $246.60, ascending resistance at $248.44 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

0830  GDP, expected 2.8%

1030  EIA Weekly Petroleum Status Report

 

Notable Earnings Before Open
NONE

 

Notable Earnings After Close

Ctrip.com (CTRP) – EPS Est. $0.20

Workday (WDAY) – EPS Est. $-0.39

Five Below (FIVE) – EPS Est. $0.29

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