Monday January 8, 2018
Economic Calendar & Watch List
Morning Notes
US Futures drifting lower this morning after a straight 4 days of new record highs. European markets are trading slightly higher after Eurozone investor confidence level rose to a 17 year high. Asian stocks settled mostly higher.
Technicals
The SPY surged higher again throughout Friday’s session posting more new record highs on continued momentum. Support will first lie at a pivot at $272, followed by $270.65, the top of the recent consolidation at $268.80, then the 20EMA at $267.45, the low of the recent consolidation at 267, a short term pivot at $265.45, and ascending support at $263.60. Support continues at the recent swing low pivot and the 50SMA at $262.71, then pivots at $260.75, $260, $259.20, the 100SMA at $256.32, and pivots at $255.63 and $254.30. Resistance will lie at all time highs at $273.56.
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**
KSS, STX
Economic Calendar
1:35 Fed Pres. Williams Speaks
4:00 Fed Pres. Rosengren
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
