Tuesday September 26, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are unchanged this morning as markets await Fed Chair Janet Yellen’s speech at a conference later today. European stocks are edging higher on M&A activity as Amazon targets Carrefour, a large supermarket chain. Asian stocks settled mostly lower.
Technicals
The SPY sold early in yesterday’s session to test the 20EMA and managed to close out the day back above. Support will lie at the 20EMA at $248.30, followed by the low of yesterday’s range at $248.08, gap entry at $248.02, gap fill at $247.11, the 50SMA at $246.89, then $246.23, $244.95, $244.62, and the 100SMA at $244.37. Resistance will lie at the high of yesterday’s range at $249.55, followed by $249.63, $249.98, $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**
$RHT
$DRI
Economic Calendar
9:00 July S&P CoreLogic composite-20 home price index expected +0.2%
9:30 Cleveland Fed President Loretta J. Mester speaks
10:00 August new home sales expected +2.5%
10:00 September consumer confidence expected -2.9 to 120
10:00 September Richmond Fed manufacturing index expected -1 to 13
10:30 Fed Governor Lael Brainard speaks
11:30 Atlanta Fed President Raphael Bostic speaks
12:45 Fed Chair Janet Yellen delivers speech
Notable Earnings Before Open
Darden Restaurant (DRI) – EPS Est. 0.98
Notable Earnings After Close
Cintas (CTAS) – EPS Est. 1.26
Micron (MU) – EPS Est. 1.73
Nike (NKE) – EPS Est. 0.48
