Friday December 15, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are pointing slightly higher and European stocks are slightly lower this morning in early trading. Stocks pulled of their best levels yesterday with partial loss of Republican support on the tax bill causing investors to be on edge coming into the vote next week. Asian stocks settled mostly lower to end the week.
Technicals
The SPY drifted lower throughout yesterday’s session after posting record highs Wednesday. Support will first lie at the 20EMA at $263.06, followed by the recent pivot at $262.71, then $260.75, ascending support at $260.35, $260, a short term pivot at $259.20, the 50SMA at $259.03, a pivot at $255.63 and at $254.30, then the 100SMA at $253.29. Resistance will lie at all time highs at $267.32.
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**
CSX, ORCL
Economic Calendar
8:30 Empire State Manufacturing Survey
9:15 Industrial Production
1:00 Baker-Hughes Rig Count
** Quad Witching Day
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
