Tuesday December 12, 2017
Economic Calendar & Watch List
US Futures and European stocks are mixed this morning in early trading. The FOMC meeting starts today and investors will be scrutinizing the minutes that are released on Wednesday afternoon. Brent crude prices surged to a nearly 3 year high after a major transmission line had to be shut down after a small crack was discovered. Asian stocks closed the day mostly lower.
The SPY continued to march higher throughout yesterday’s session closing just below all time highs. Support will first lie at $262.71, followed by the 20EMA at $261.97, then $260.75, the recent pivot at $260, a short term pivot at $259.20, the 50SMA at $258.21, a pivot at $255.63 and at $254.30, then the 100SMA at $252.71. 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**
8:30 Producer Price Index, expected 0.3%
Notable Earnings Before Open
Notable Earnings After Close