Wednesday August 2, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are higher this morning as the DOW is set to post new record highs by surpassing 22,000 fueled by an earnings beat by Apple (AAPL). European shares are mostly down in early trading as EUR/USD hit a 2.5 year high. Asian stocks settled mixed on the day.
Technicals
The SPY opened at the high of Monday’s session and consolidated at the ascending resistance closing slightly back above. Support will lie at the low of yesterday’s range at $246.8, followed by $246.53, $246.13. Support continues with a short term pivot point at $245.70, followed by the 20 EMA at $245.66, then $244.67, $244.31, $243.76 and the 50 SMA at $243.74. Further support lies at the gap entry at $243.30, then gap fill at $242.55. Resistance will lie at Tuesday’s high of $247.50 and the record highs at $248.
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
0815 July ADP private payroll expected +190k
1000 EIA Weekly Petroleum Status Report
1100 Fed Pres. Mester Speaks
1530 Fed Pres. Williams Speaks
Notable Earnings Before Open
Time Warner (TWX) – EPS Est. $1.19
Mondelez International (MDLZ) – EPS Est. $0.46
Humana (HUM) – EPS Est. $3.08
Cardinal Health, Inc. (CAH) – EPS Est. $1.24
SodaStream International (SODA) – EPS Est. $0.51
Notable Earnings After Close
Tesla (TSLA) – EPS Est. $-2.00
American International Group (AIG) – $1.20
Square (SQ) – EPS Est. $-0.04
Chemours Company (CC) – EPS Est. $0.90
Take-Two Interactive Software (TTWO) – EPS Est. $0.19
