Economic Calendar & Watch List
Morning Notes
US Futures are slightly higher on optimism that the US House and Senate will work on a compromise for tax legislation.European stocks are slightly lower in early trading after failed Brexit talks along with a drop in Eurozone retail sales, the largest in nearly 4 years, is weighing on European markets. Asian stocks closed the day mostly lower.
Technicals
The SPY (NYSE:SPY) posted new highs on the open yesterday then drifted lower throughout the remainder of the session. Support will first lie at $264.08, followed by $260.75, then the 20 EMA at $260.35, the recent pivot and the ascending resistance channel line at $260, a short term pivot at $259.20, the 50SMA at $256.76, a pivot at $255.63 and at $254.30, then the 100SMA at $251.79. Resistance will lie at the all time highs at $266.80.
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**
NVIDIA Corporation (NASDAQ:NVDA),
Alibaba Group Holdings Ltd (NYSE:BABA)
Economic Calendar
8:30 International Trade, expected -47.1b
8:55 Redbook
Notable Earnings Before Open
AutoZone (NYSE:AZO) – EPS Est. $0.32
Notable Earnings After Close
Veeva Sys Inc (NYSE:VEEV)– EPS Est. $0.16
Dave & Buster’s Entertainment (NASDAQ:PLAY) – EPS Est. $0.24
RH (NYSE:RH) – EPS Est. $1.03