Wednesday October 25, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are drifting slightly lower this morning after Treasury yields broke a significant technical level overnight. European stocks are trading higher on optimism in the economic future after the German business climate rose to a record high. Investors are also awaiting the ECB meeting on Thursday where it is expected that the current QE program will be reduced. Asian stock again closed higher.
Technicals
The SPY traded on an inside day throughout yesterday’s session as consolidation near record highs takes place. Support will lie at the low of yesterday’s range at $256.02, followed by gap fill at $255.82, then $254.37, $253.98, the 20EMA at $254.10, then $253.65, $253.20, $252.56, $252.23, the former ascending resistance at $251.60, then $251.30, and the recent pivot at $250.15. Resistance will lie at the high of yesterday’s range at 256.83, followed by the record highs of $257.51.
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**
CMG, AKAM, ACHC
Economic Calendar
8:30 Durable Good Orders
10:00 New Home Sales
10:30 EIA Petroleum Status Report
Notable Earnings Before Open
Visa (V) – EPS Est. $0.86
Boeing (BA) – EPS Est. $2.65
Walgreens Boots Alliance (WBA) – EPS Est. $1.22
Anthem (ANTM) – EPS Est. $2.41
Notable Earnings After Close
Las Vegas Sands (LVS) – EPS Est. $1.48
O’Reilly Automotive (ORLY) – EPS Est. $3.16
Buffalo Wild Wings (BWLD) – EPS Est. $0.80
