Monday November 6, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly lower in early trading but losses are limited with a sharp rise in the price of crude oil. Crude prices rose to their highest levels in 2 years after a corruption crackdown in Saudi Arabia. Asian stocks closed the day mixed.
Technicals
The SPY exhibited minor weakness in early trading Friday, then rallied through the session encountering resistance at all time highs. Support will lie at the low of Friday’s range at $257.30, followed by $256.19, $255.63, the 20EMA at $255.86, then $253.98, $253.65, $253.20, $252.56, $252.23, the former ascending resistance at $252.19, then $251.30, and the recent pivot at $250.15. Resistance will lie at all time highs at $258.50.
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
12:10 Fed Pres. Dudley Speaks
Notable Earnings Before Open
CVS Health (CVS) – EPS Est. $1.49
Sysco (SYY) – EPS Est. $0.73
Mylan (MYL) – EPS Est. $1.21
Notable Earnings After Close
Priceline (PCLN) – EPS Est. $34.31
Skyworks (SWKS) – EPS Est. $1.64
TripAdvisor (TRIP) – EPS Est. $0.20
Avis Budget Group (CAR) – EPS Est. $2.97
