Tuesday November 14, 2017
Economic Calendar & Watch List
Morning Notes
US Futures along with European stocks are drifting lower this morning with news of slower than expected growth in China. The slower than expected production and sales are weighing on global markets. European losses were limited due to a larger than expected rise in German GDP. Central bankers are in focus as many are meeting in Germany and investors will be listening in for clues into rate hikes and other insight into the US and global economy. Asian stocks closed mostly lower.
Technicals
The SPY, again, continued to consolidate just above the 20EMA through Monday’s session, pushing above the short term pivot resistance at $258.20. Support will lie at the low of yesterday’s range at $257.27, followed by the 20EMA at $256.95, then $256.36, $256.19, $255.63, a pivot at $254.30, then $253.98, $253.65, the 50SMA at $253.46, then $253.20, and a recent pivot at $250.15. Resistance will lie at $258.59 followed by all time highs at $259.35.
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**
DKS, LOXO, AAP
Economic Calendar
3:05 Fed Pres. Evans Speaks
5:00 Fed Chair Yellen Speaks
8:15 Fed Pres. Bullard Speaks
8:30 Producer Price Index
8:55 Redbook
Notable Earnings Before Open
Home Depot (HD) – EPS Est. $1.81
Advance Auto Parts (AAP) – EPS Est. $1.22
TJX Companies (TJX) – EPS Est. $1.00
Notable Earnings After Close
YY Inc. (YY) – EPS Est. $1.54
Yirendai Ltd. (YRD) – EPS Est. $0.78