Morning Notes
US Futures and European stocks are trading lower this morning as worries over North Korea shake the markets. North Korea launched a missile over Japan yesterday afternoon placing investors on edge. This has sent investors into safe havens, such as gold and treasuries. Asian stocks settled mostly lower.
Technicals
The SPY (NYSE:SPY) traded on light volume during yesterday’s session finding resistance at the 50SMA and closed the day back below. Support will lie at the low of yesterday’s range at $244.09, followed by $243.75, then gap entry at $243.55, gap fill at $243.20, the 100SMA at $242.04, then $241.83, $240.85, and the recent support pivot at $240.65.
Resistance will lie at the high of yesterday’s range at $245.20, then the recents swing high pivot at $245.62, followed by $246.60, ascending resistance at $248.38 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
0855 Redbook
1000 Consumer Confidence, expected 120
Notable Earnings Before Open
Best Buy (NYSE:BBY): EPS Est. $0.63
Hain Celestial (NASDAQ:HAIN): EPS Est. $0.40
Notable Earnings After Close
H&R Block (NYSE:HRB): EPS Est. $-0.63