Economic Calendar & Watch ListMorning Notes
US Futures are up slightly as Pres. Trump and lawmakers prepare to negotiate a long term budget deal and vote on a short term spending bill to avoid a partial government shutdown. European stocks are also up with the GDP data that shows the fastest pace of growth in nearly 6 ½ years. Asian stocks closed mixed.
Technicals
The SPY (NYSE:SPY) paused its pull back off Monday’s record highs and consolidated throughout yesterday’s session after gapping down to start the session. Support will first lie at the 20EMA at $260.99, followed by $260.75, the ascending resistance channel line at $260.17, the recent pivot at $260, a short term pivot at $259.20, the 50SMA at $257.33, a pivot at $255.63 and at $254.30, then the 100SMA at $252.15. Resistance will lie at Yesterday’s high of $263.71, then $265.15, then 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**
Economic Calendar
8:30 Weekly Unemployment Claims, expected 240k
8:30 Fed Pres. Dudley Speaks
Notable Earnings Before Open
Dollar General (NYSE:DG) – EPS Est. $0.94
Notable Earnings After Close
NONE