Friday September 22, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are drifting lower this morning on continued concern with North Korea after North Korea President Kim Jong Un promised the hardest countermeasures against the US. European stocks are trading higher after Eurozone September Markit manufacturing rose at the highest level since 2014. Asian stocks closed predominantly lower.
Technicals
The SPY tested the current ascending resistance and then drifted lower throughout yesterday’s session. Support will lie at the low of yesterday’s range at $249.19, followed by $248.92, $248.57, the 20EMA at $248.12, gap entry at $248.02, gap fill at $247.11, the 50SMA at $246.73, then $246.23, $244.95, $244.62, and the 100SMA at $244.15. Resistance will lie at the high of yesterday’s range at $249.98, followed by $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**
$ICPT
$GRUB
$KMX
Economic Calendar
9:30 Kansas City Fed President Esther George speaks
9:45 Preliminary-Sep Markit U.S. manufacturing PMI expected +0.2 to 53
1:30 Dallas Fed President Robert Kaplan speaks
Notable Earnings Before Open
Carmax (KMX) – EPS Est. 0.95
Finish Line (FINL) – EPS Est. $ 0.1
Notable Earnings After Close
NONE