Thursday October 12, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are slightly lower this morning led by weakness in crude prices after an unexpected increase in stockpiles. Earnings season has started and a weak report from JPM is also weighing on indexes. European losses were limited with a strong industrial production growth in the Eurozone. Asian stocks closed mostly higher after the Nikkei reached its highest level in 20 years.
Technicals
The SPY traded in a constricted range during Wednesday’s session posting another record close. Support will lie at the low of yesterday’s range at $254.32, followed by $253.98, $253.65, $253.20, $252.56, $252.23, the 20EMA at $251.65, then $251.30, the former ascending resistance at $251, and the recent pivot $250.15. Resistance will lie at the record highs of $255.05.
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**
DPZ
Economic Calendar
8:30 Weekly Unemployment Claims, expected 252k
10:30 Fed Gov. Powell Speaks
10:30 EIA Natural Gas Report
11:00 EIA Petroleum Status Report
9:15 Fed Pres. Bostic Speaks
Notable Earnings Before Open
Citigroup (C) – EPS Est. $1.30
Domino’s Pizza (DPZ) – $1.22
JP Morgan Chase (JPM) -$1.67
Notable Earnings After Close
NONE
