Monday December 18, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are pointing slightly higher along European stocks. This is after renewed optimism that the Republicans would be able to pass the new, business friendly, tax reform bill this week. Brexit talks are spotlighted in Britain as PM May meets with cabinet members on their future relationship with the EU. Asian stocks settled mostly higher to start the week.
Technicals
The SPY consolidated throughout Friday’s session and closed the day in the positive on higher than average volume. Support will first lie at the 20EMA at $263.38, followed by the recent pivot at $262.71, then $260.75 which correlates with the ascending support, then $260, the 50SMA at $259.27, a short term pivot at $259.20, a pivot at $255.63 and at $254.30, then the 100SMA at $253.48. Resistance will lie at all time highs at $267.32.
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**
AKAM
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
