Economic Calendar & Watch List
Morning Notes
US Futures are edging higher this morning while European stocks are trading higher by nearly +1% after Eurozone GDP rose at the expected pace along with the UK posting a large decline in jobless claims, triggering global optimism which is giving markets a boost early. Asian stocks closed mostly mixed.
Technicals
The SPY (NYSE:SPY) tested the 20EMA which held as lows throughout yesterday’s session, consolidating just below Monday’s range close.
Support will lie at the low of yesterday’s range at $246.16, followed by the 20EMA at $246.07, gap entry at $245.55, followed by gap fill at $244.80, then the 50SMA at $244.68. Support continues at $243.75, followed by $243.70, gap entry at $243.30 and gap fill at $242.55, and finally the the 100SMA at $241.21. Resistance will lie at the high of yesterday’s range at $247, followed by $247.31, the ascending resistance at $247.80 and the 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
1030 EIA Weekly Petroleum Status Report
1400 FOMC Meeting Minutes
Notable Earnings Before Open
Target (NYSE:TGT) – EPS Est. $1.21
Notable Earnings After Close
Cisco Systems (NASDAQ:CSCO) – EPS Est. $0.55
L Brands (NYSE:LB) – EPS Est. $0.45