Morning Notes
US Futures are tracking higher as markets approach all time highs. European stocks are trading higher by over +1% while Asian stocks showed strength over night as the Nikkei pushed over 600 points, or 4%, higher along with the Hang Seng moving jumping by over 300 points.
Technicals
The SPY (NYSE:SPY) surged higher in Friday’s session and closed out just off the intraday highs while also approaching its all time high at $213.78. Support will lie at the low of Friday’s range at $210.78, followed by $210.65, the former macro resistance which now becomes support at $209, $208.63, and the 50 day moving average at $207.79. Resistance will lie at the high of Friday’s range at $212.94, $213.18, $213.34, and $213.78.
Small-Cap Watch List
**Others On Watch**
Economic Calendar
10:00 FOMC Member George Speaks
10:00 Labor Market Conditions
Notable Earnings Before Open
Bank of the Ozarks (NASDAQ:OZRK): EPS Est. $.58, Rev Est. $163.84M
Notable Earnings After Close
Alcoa (NYSE:AA): EPS Est. $.09, Rev Est. $5.2B