Morning Notes
US Futures are edging moderately higher this morning while European stocks trade sharply higher by over +1% after concerns over North Korea were quelled by the CIA. Asian stocks closed mostly higher.
Technicals
The SPY (NYSE:SPY) consolidated near the low of Thursday’s range on light volume. Support will lie at the low of Friday’s range at $243.75, followed by $243.70, then gap entry at $243.30 and gap fill at $242.55. Support continues with the 100 SMA at $240.96. Resistance will lie at the 20 EMA at $245.98, followed by $246.44, $247.31, the ascending resistance at $247.68 and record highs at $248.91.
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
NONE
Notable Earnings Before Open
Jd.Com Inc Adr (NASDAQ:JD)– EPS Est. $0.02
Sysco Corporation (NYSE:SYY) – EPS Est. $0.71
Notable Earnings After Close
NONE