Thursday September 14, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are lower in early trading. This comes after three consecutive days of gains. China’s industrial production grew at the slowest pace of the year, which is weighing on the global markets. Asian stocks settled the mostly mixed.
Technicals
The SPY continued its run for the 3rd consecutive day initially meeting resistance at yesterday’s high then closing the session back above at record highs. Support will lie at the low of yesterday’s range at $249.59, then gap entry at $249.42, followed by gap fill at $249.30, then ascending resistance at $249.10, another gap entry at $248.02, followed by gap fill at $247.11, then the 20EMA at $246.94, then $246.30, $246.23, the 50SMA at $245.84, then $244.95, $244.62, and the 100SMA at $243.47. Resistance will lie at the high of yesterday’s range at $250.21.
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**
Economic Calendar
0830 CPI, expected +0.4% M/M
0830 Weekly Unemployment Claims, expected 300k
1030 EIA Natural Gas Report
Notable Earnings Before Open
NONE
Notable Earnings After Close
Oracle Corporation (ORCL) – EPS Est. $0.55
