Economic Calendar & Watch List
Morning Notes
US Futures are edging higher in the premarket ahead of key economic data including the PMI Manufacturing and ISM Mfg. European markets trimmed some of last weeks gains after hitting a 4-week high amid tensions in Spain and the independence vote for Catalonia. Asian markets settled higher before closing this week for holiday.
Technicals
The SPY (NYSE:SPY) broke out above the ascending resistance and held gains into the close on increased volume. Support will lie at the low of Friday’s range at $250.13, followed by $249.63, the 20EMA at $248.92, then $248.87, $248.07 and $248.02 which will continue to act as a major pivot point. Support continues at the 50SMA at $247.20, followed by $246.23, $244.95, and the 100SMA at $244.68. Resistance will lie at record highs at $251.32.
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
10:00 ISM Mfg Index
10:00 Construction Spending
2:00 Robert Kaplan Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE