Monday January 22, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are slightly lower as European stocks trade higher early. After not reaching a spending bill agreement, the US government partially shutdown on Saturday Morning. There is a vote scheduled for 12:00EST today to see if parties can come together. European markets are higher with signs of cooperation within the German government . Asian stocks settled mostly higher to start the week.
Technicals
After encountering resistance at previous highs, the SPY set a new high in Friday’s session with increased volume . Support will first lie at $280.09, followed by $276.13, then $274.10, the 20EMA at $273.24, then $272, $270.65, the top of the recent consolidation at $268.80, then the low of the recent consolidation at 267, and the 50SMA at $266.25. Support continues with a short term pivot at $265.82, then ascending support at $265.65, a recent swing low pivot at $262.71, and then pivots at $260.75, $260, and the 100SMA at $259.24. Resistance will lie at all time highs at $280.41.
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**
SANM, PETS, WYNN
Economic Calendar
NONE
Notable Earnings Before Open
Wynn Resorts (WYNN) – EPS Est. $1.36
Notable Earnings After Close
Netflix (NFLX) – EPS Est. $0.41
