Monday October 16, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are edging higher in early trading led by optimism in continued strength in the global economy. This is due in part to strength in the commodity sector, with speculation of higher demand in the Chinese market, and a rise in crude prices from recent tensions in Iraq. Asian stocks settled mostly higher to begin the week.
Technicals
The SPY broke the recent consolidation and initially traded higher during Friday’s session posting more new all time highs. Support will lie at the low of Friday’s range at $254.76, followed by $254.37, $253.98, $253.65, $253.20, $252.56, the 20EMA at $252.20, then $252.23, $251.30, the former ascending resistance at $251.15, and the recent pivot at $250.15. Resistance will lie at the record highs of $255.27.
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 Empire State Mfg Survey
Notable Earnings Before Open
NONE
Notable Earnings After Close
Netflix (NFLX) – EPS Est. $0.32
Sonic (SONC) – EPS Est. $0.43
