Economic Calendar & Watch List
Morning Notes
US Futures are lower this morning and European stocks are higher after Eurozone economic confidence rose to a near 17 year high. Investors will look for clues into the economy as they await FOMC meeting decisions, unemployment numbers and a potential Fed chair nomination this week. Asian stocks closed the day mostly mixed.
Technicals
The SPY (NYSE:SPY) surged higher continuing its strength throughout Friday’s session, setting new all time highs yet again. Support will lie at the low of Friday’s range at $255.63, followed by the 20EMA at $254.76, then $253.98, $253.65, $253.20, $252.56, $252.23, the former ascending resistance at $251.77, then $251.30, and the recent pivot at $250.15. Resistance will lie at the all time highs set Friday at $257.89.
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**
Merck & Company Inc (NYSE:MRK)
Economic Calendar
8:30 Personal Income and Outlays
Notable Earnings Before Open
Loews Corporation (NYSE:L) – EPS Est. $0.02
Notable Earnings After Close
Mondelez (MDLZ) – EPS Est. $0.54
Texas Roadhouse Inc (NASDAQ:TXRH) – EPS Est. $0.43