Tuesday January 9, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. US Futures continue to hit new highs as investors are expecting another strong quarterly earnings season. Eurozone unemployment dropped to a 9 year low, sending European markets higher. Asian stocks settled mostly higher with Japan’s Nikkei setting a new 26 year high.
Technicals
The SPY continued to show strength in Monday’s session posting more new record highs. 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 $268.04, the low of the recent consolidation at 267, and a short term pivot at $265.45. Support continues with ascending support at $263.90, the 50SMA at $263.07, a recent swing low pivot at $262.71, then pivots at $260.75, $260, $259.20, and the 100SMA at $256.60. Resistance will lie at all time highs at $274.10.
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**
TGT
Economic Calendar
8:55 Redbook
10:00 JOLTS Report
10:00 Fed Pres. Kashkari speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
WD-40 Company (WDFC) – EPS Est. $0.83