Monday November 27, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading on positive signs of an economic recovery after spending on Black Friday was a record setting $5B. Today’s Cyber Monday is expected to be even bigger, with over $6B in sales predicted. Asian stocks closed predominantly lower.
Technicals
The SPY drifted sideways in Friday’s session on quiet trading for the half day following the Thanksgiving Holiday. Support will lie at a pivot at $260, followed by the ascending resistance channel line and short term pivot at $259.15, followed by the 20 EMA at $257.97, then a pivot at $255.63, the 50SMA at $255.13, a pivot at $254.30, the 100SMA at $250.56, and the ascending support macro channel line at $250.20. Resistance will lie at the all time highs at $260.48.
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**
SQ
Economic Calendar
10:00 October new home sales expected -6.3% to 625K
10:30 November Dallas Fed manufacturing activity expected -3.6
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
