Morning Notes
US Futures are unchanged while European stocks trade relatively flat in quiet holiday trading. European losses were contained by strength in banking stocks after Deutsche Bank (DE:DBKGn) agreed to pay $7.2B to settle an investigation into mortgage backed securities. Asian stocks closed predominantly lower.
Technicals
The SPY (NYSE:SPY) drifted lower on light volume throughout yesterday’s session and closed back below its 9EMA. Support will lie at the low of yesterday’s range at $224.92, followed by $224.67, $224.26, and $221.38. Resistance will lie at the high of yesterday’s range at $225.77, followed by $226.45, $226.57, $227.81, $227.81, $228.23, and record highs at $228.34.
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**
NONE
10:00 New Home Sales Est. 575K
10:00 Revised Consumer Sentiment Est. 98.2
10:00 Revised Inflation Expectations
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE