Wednesday January 3, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher this morning on optimism in the US economy. European stocks are moving higher led by a decline in German unemployment, the Eurozone’s largest economy. Asian stocks settled mostly higher on the session.
Technicals
The SPY started 2018 posting and closing at new record highs. Support will first lie at the 20EMA at $265.97, followed by the short term pivot of $265.46, the recent pivot at $262.71, which coincides with ascending support. Support continues at the 50SMA at 261.78, a pivot at $260.75, $260, $259.20, $255.63, then the 100SMA at $255.30 and a pivot at $254.30. Resistance will lie at all time highs at $268.81.
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**
INTC, NVDA
Economic Calendar
8:55 Redbook
9:00 ISM Manufacturing Index
2:00 FOMC Meeting Minutes
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
