Thursday October 5, 2017
Economic Calendar & Watch List
Morning Notes
US Futures yet again reached new all-time highs yesterday before receding into the close. This morning US Futures are setting up for a slight gap up and is looking likely that we will reach new all-time highs again for the fifth straight day. European markets are mixed as they continue to weigh the outcome of a Catalonia secession from Spain. Asian markets continued to be mixed with China, Taiwan and South Korea markets still closed for the week for holiday.
Technicals
The SPY continued its rally yesterday with all-time highs peaking at $253.44 but have since come off. Shares are looking to gap up this morning with prices currently trading around $253.50. Support will be at yesterday’s lows at $252.56 followed up closely at $252.25 and then with major support at the $250 pivot. Look for resistance at record highs at $253.44 with $255 likely to act as a whole dollar resistance level.
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
8:30am EST International Trade
8:30am EST Jobless Claims
9:45am EST Bloomberg Consumer Confidence Index
10:00am EST Factory Orders
10:30am EST EIA Natural Gas Report
Notable Earnings Before Open
Constellation Brands (STZ) – EPS Estimates $2.16
Notable Earnings After Close
NONE