Thursday September 7, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are slightly higher this morning following gains in the market during yesterday’s session after an agreement was reached on the raise of the debt ceiling. European stocks are higher as investors look forward to information from ECB Draghi on ending the QE program. Hurricane Irma is weighing on the markets as it is expected to make landfall on the US mainland as early as Friday. Asian stocks settled mixed on the day.
Technicals
The SPY traded in a tight range on lighter than average volume ending the session just off the highs. Support will lie at the low of yesterday’s range at $246.23, followed by the 20EMA at $245.73, the 50SMA at $245.18, then $244.95, $244.62, $242.93, the 100SMA at $242.61, then $241.83, and $240.85. Resistance will lie at the high of Yesterday’s range at $247.28, followed by gap entry at $247.52, then gap fill at $247.67, then $248.33, ascending resistance at $248.77 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 Weekly Unemployment Claims, expected 239k
1030 EIA Natural Gas Report
1100 EIA Petroleum Status Report
1215 Fed Pres. Mester Speaks
1900 Fed Pres. Bostic Speaks
1900 Fed Pres. Dudley Speaks
2015 Fed Pres. George Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE