Friday December 8, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are up this morning in early trading. US lawmakers passed a spending bill late last night to avoid a partial government shutdown. Britain and the EU came to an agreement that will allow for the continuation of Brexit talks. Asian stocks closed mixed to end the week.
Technicals
The SPY continued its bullish pattern and consolidated below the all time highs throughout yesterday’s session. Support will first lie at $262.71, followed by the 20EMA at $261.14, then $260.75, the ascending resistance channel line at $260.28, the recent pivot at $260, a short term pivot at $259.20, the 50SMA at $257.61, a pivot at $255.63 and at $254.30, then the 100SMA at $252.33. Resistance will lie at Yesterday’s high of $264.43, then $265.15, then the all time highs at $266.80.
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
8:30 Employment Situation
10:00 ISM Manufacturing Index
1:00 Baker-Hughes Rig Count
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE