Wednesday September 26, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are edging higher this morning on details of President Trump’s newly revised tax plan. The President is expected to release the full details in a conference later today. European stocks are trading higher at nearly 3 month highs as exporters lead the rally. Asian stocks closed mostly mixed.
Technicals
The SPY remained weak in yesterday’s session attempting to consolidate back above the 20EMA. Support will lie at the low of yesterday’s range at $248.81 followed by the 20EMA at $248.38, then $248.08, gap entry at $248.02, gap fill at $247.11, the 50SMA at $246.97, then $246.23, $244.95, $244.62, and the 100SMA at $244.47. Resistance will lie at the high of yesterday’s range at $249.70, followed by $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**
Economic Calendar
8:30 August durable goods orders expected +1.0% and +0.3% ex-trans
10:00 August pending home sales expected -0.5%
10:30 EIA weekly Petroleum Status Report
1:30 St. Louis Fed President James Bullard
Notable Earnings Before Open
NONE
Notable Earnings After Close
Jabil Circuit (JBL) – EPS Est. 0.54
Pier 1 (PIR) – EPS Est. -0.06
Thor Industries (THO) – EPS Est. 1.95
