Wednesday November 15, 2017
Economic Calendar & Watch List
Morning Notes
US Futures along with European stocks are down this morning in early trading led by weakness in energy. A drop in crude oil prices after API data late yesterday in conjunction with a stalled tax reform plan is weighing on major indexes. Asian stocks closed predominantly lower.
Technicals
The SPY tested the 20EMA again and edged back higher to close yesterday’s session positive. Support will lie at the 20EMA at 257.02, followed by the low of yesterday’s range at $256.52, then $256.36, $256.19, $255.62, a pivot at $254.30, then $253.98, the 50SMA at $253.70, then $253.65, $253.20, and a recent pivot at $250.15. Resistance will lie at the high of yesterday’s range at $257.85, then $258.59, $259.22, and 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**
Economic Calendar
3:00 Fed Pres. Evans Speaks
8:30 Consumer Price Index
10:30 EIA Petroleum Status Report
4:00 Fed Pres. Rosengren Speaks
Notable Earnings Before Open
Target (TGT) – EPS Est. $0.85
Children’s Place (PLCE) – EPS Est. $2.46
Notable Earnings After Close
Cisco (CSCO) – EPS Est. $0.55
L Brands (LB) – EPS Est. $0.30