Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher this morning on optimism in the US economy. European stocks are moving higher led by a decline in German unemployment, the Eurozone’s largest economy. Asian stocks settled mostly higher on the session.
Technicals
The SPY (NYSE:SPY) started 2018 posting and closing at new record highs. Support will first lie at the 20EMA at $265.97, followed by the short term pivot of $265.46, the recent pivot at $262.71, which coincides with ascending support. Support continues at the 50SMA at 261.78, a pivot at $260.75, $260, $259.20, $255.63, then the 100SMA at $255.30 and a pivot at $254.30. Resistance will lie at all time highs at $268.81.
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**
Intel Corporation (NASDAQ:INTC), NVIDIA Corporation (NASDAQ:NVDA)
Economic Calendar
8:55 Redbook
2:00 FOMC Meeting Minutes
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE