Thursday January 11, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are up slightly and European markets are starting the day slightly lower. WTI Crude prices are lifting stocks slightly as EIA data showed a draw on US inventories for the 8th week. European shares are being weighed on by losses in the retail sector. Asian stocks settled the day mixed.
Technicals
The SPY gapped lower to open yesterday’s session and closed the gap, consolidating below Tuesday’s highs . Support will first lie at a pivot at $272, followed by $270.65, then the 20EMA at $269.32, the top of the recent consolidation at $268.80, then the low of the recent consolidation at 267, and a short term pivot at $265.45. Support continues with ascending support at $264.21, the 50SMA at $263.77, a recent swing low pivot at $262.71, then pivots at $260.75, $260, $259.20, and the 100SMA at $257.18. Resistance will lie at all time highs at $275.25.
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**
DAL
Economic Calendar
8:30 Weekly Unemployment Claims, expected 245k
8:30 Producers Price Index
3:30 Fed Pres. Dudley Speaks
Notable Earnings Before Open
Delta Air Lines (DAL) – EPS Est. $0.87
Notable Earnings After Close
NONE
