Wednesday December 27, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are again marginally lower on light holiday trading. Investors will be paying attention to the consumer confidence data to gain insight into the strength of the economy. European stocks are lower after being closed yesterday. Energy stocks are weighing on the market with Brent crude prices dropping 1.4%. Asian stocks settled the day mixed.
Technicals
The SPY traded on light volume and continued its consolidation. Support will first lie at the short term pivot of $265.46, followed by the 20EMA at $265.14, the recent pivot at $262.71, ascending support at $261.92, then the 50SMA at 260.81 and a pivot at $260.75. Support continues with pivots at $260, $259.20, $255.63, then the 100SMA at $254.70 and a pivot at $254.30. Resistance will lie at all time highs at $268.60.
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**
TSLA, BABA
Economic Calendar
8:55 Redbook
9:00 Consumer Confidence
10:00 Pending Home Sales
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
