Monday December 11, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are up this morning in early trading. Markets are moving higher with news that US lawmakers passed new tax reform legislation cutting the business tax rate from 35% to 20% on Saturday. Global markets are also showing strength on this news. Asian stocks closed mixed to start the week.
Technicals
The SPY remains in a bullish pattern while edging back towards all time highs. Support will first lie at $262.71, followed by the 20EMA at $261.54, then $260.75, the recent pivot at $260, a short term pivot at $259.20, the 50SMA at $257.91, a pivot at $255.63 and at $254.30, then the 100SMA at $252.52. Resistance will lie at 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**
CELG, BLUE, ONCE
Economic Calendar
10:00 JOLTS
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
