Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher this morning on continued optimism in the global economy. European stocks are receiving a boost from revised Markit PMI data showing signs of stronger economic growth. Crude prices are helping push the energy sector higher after data showed a tightening of supply. Asian stocks settled mostly higher.
Technicals
The SPDR S&P 500 (NYSE:SPY) surged higher in yesterday’s session breaking out of the recent consolidation and posting new highs. Support will first lie at the top of the recent consolidation at $268.81, followed by the low of the recent condolidation at 266, the 20EMA at $266.37, a the short term pivot of $265.46, ascending support at $263.06, and a recent swing low pivot at $262.71. Support continues at the 50SMA at 262.05, a pivot at $260.75, $260, $259.20, the 100SMA at $255.78, then a pivot at $255.63 and $254.30. Resistance will lie at all time highs at $270.64.
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**
Tesla Inc (NASDAQ:TSLA), L Brands Inc (NYSE:LB), Roku Inc (NASDAQ:ROKU)
Economic Calendar
8:30 Weekly Unemployment Claims, expected 245k
10:30 EIA Petroleum Status Report
1:30 Fed Pres. Bullard Speaks
Notable Earnings Before Open
Walgreens Boots Alliance (NASDAQ:WBA) – EPS Est. $1.27
Monsanto (NYSE:MON) – EPS Est. $0.38
Notable Earnings After Close
Sonic Corp (NASDAQ:SONC) – EPS Est. $0.25