Economic Calendar & Watch List
Morning Notes
US stock futures are slightly up this morning with good comments from San Francisco Fed Pres. Williams. However, European stocks are down at a 2 month low. US gains are limited as tech stocks are still pulling on the market. Asian stocks settled mostly lower on the day.
Technicals
The SPY (NYSE:SPY) sold off throughout yesterday’s session, closing well below the 20EMA. Support will lie at the low of yesterday’s range at $241.31 followed by the the near term support pivot at $240.65, then $239.93, $239.51, $238.82, and the 50 SMA at $240.46. Resistance will lie at the 20 EMA at $242.61, followed by the high of yesterday’s range at $243.38, then $244.38, $244.73, $244.87, and the record highs at $245.01.
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 ET May wholesale inventories expected +0.2%
1000 ET May pending home sales expected +1.0%
1030 ET EIA Weekly Petroleum Status Report
Notable Earnings Before Open
Paychex Inc (NASDAQ:PAYX) – Est EPS $0.528
Monsanto Co (NYSE:MON) – Est EPS $1.767
General Mills Inc (NYSE:GIS) – Est EPS $0.711
Notable Earnings After Close
NONE