Friday December 1, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are drifting lower this morning in early trading. European stocks are being pulled lower by a drop in technology stocks. US Futures are lower in part to a suspension of the Tax bill vote in the Senate and a possible partial US Gov’t shutdown if a spending bill is not passed by next Friday. Asian stocks settled mixed to end the week.
Technicals
The SPY continued to push higher on strength throughout yesterday’s session posting new all time highs on higher than average volume. Support will first lie at $263.63, followed by $260.75, then the recent pivot at $260, the ascending resistance channel line at $259.73, followed closely by the 20 EMA at $259.55, a short term pivot at $259.20, the 50SMA at $256.16, then a pivot at $255.63, a pivot at $254.30, and the 100SMA at $251.39. Resistance will lie at the all time highs at $266.05.
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**
NTNX, ULTA
Economic Calendar
9:05 Fed Pres. Bullard Speaks
9:30 Fed Pres. Kaplan Speaks
10:00 ISM Manufacturing Index
1:00 Baker-Hughes Rig Count
Notable Earnings Before Open
Big Lots (BIG) – EPS Est. $0.04
Notable Earnings After Close
NONE
