Thursday September 21, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat again this morning while European stocks are trading higher after the Fed announced it would begin unwinding its balance sheet next month. Metals, specifically gold, came under pressure after the announcement. Asian stocks closed mostly mixed.
Technicals
The SPY tested the near term pivot early in yesterday’s session and again managed to close back above the mid term ascending resistance. Support will lie at the low of yesterday’s range at $248.92, followed by $248.57, gap entry at $248.02, the 20EMA at $248, gap fill at $247.11, the 50SMA at $246.62, then $246.23, $244.95, $244.62, and the 100SMA at $243.93. Resistance will lie at the high of yesterday’s range at $250.19 and record highs at $250.32.
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**
$NVDA
$AMD
Economic Calendar
8:30 Weekly initial unemployment claims expected +16,000 to 300
8:30 September Philadelphia Fed business outlook index est. -1.7 to 17.2
8:30 USDA weekly Export Sales
9:00 Jul FHFA house price index expected +0.4%
10:00 Aug leading indicators expected +0.3%
1:00 Treasury auctions $11B 10-year TIPS
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
