Thursday January 4, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher this morning on continued optimism in the global economy. European stocks are receiving a boost from revised Markit PMI data showing signs of stronger economic growth. Crude prices are helping push the energy sector higher after data showed a tightening of supply. Asian stocks settled mostly higher.
Technicals
The SPY surged higher in yesterday’s session breaking out of the recent consolidation and posting new highs. Support will first lie at the top of the recent consolidation at $268.81, followed by the low of the recent condolidation at 266, the 20EMA at $266.37, a the short term pivot of $265.46, ascending support at $263.06, and a recent swing low pivot at $262.71. Support continues at the 50SMA at 262.05, a pivot at $260.75, $260, $259.20, the 100SMA at $255.78, then a pivot at $255.63 and $254.30. Resistance will lie at all time highs at $270.64.
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, LB, ROKU
Economic Calendar
8:30 Weekly Unemployment Claims, expected 245k
10:30 EIA Petroleum Status Report
1:30 Fed Pres. Bullard Speaks
Notable Earnings Before Open
Walgreens Boots Alliance (WBA) – EPS Est. $1.27
Monsanto (MON) – EPS Est. $0.38
Notable Earnings After Close
Sonic (SONC) – EPS Est. $0.25
