Monday June 12, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking slightly lower while European stocks are trading off by -1% on carryover from Friday’s selloff in US tech stocks. AAPL is trading lower by an additional -2% in pre-market trading after being downgraded to Neutral by Mizuho. Asian stocks also closed lower.
Technicals
The SPY sold off throughout Friday’s session on increased volume yet closed out well off the intraday lows. Support will lie at the low of Friday’s range at $241.95, followed by $241.64, the 20 EMA at $241.53, the near term support pivot at $240.65, then $239.93, $239.51, $238.82, and the 50 SMA at $238.46. Resistance will lie within at the record highs at $245.01 put in on Friday before the selloff.
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**
$AAPL
Economic Calendar
1:00 Treasury Auction
2:00 May monthly budget statement expected -$87B
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
