Economic Calendar & Watch List 12/29/2016

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Thursday December 29, 2016

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are relatively flat this morning while European stocks trade slightly lower in quiet year end trading. The price of crude is trading lower after API data yesterday afternoon showed an increase in inventories. Asian stocks closed mixed.

 

Technicals

The SPY sold off throughout yesterday’s session closing out the day on the lows. Support will lie at the low of yesterday’s range at $224.27, followed by $224.26 and $221.38. Resistance will lie at the high of yesterday’s range at $226.59, followed by $226.73, $227.81, and record highs at $228.34.

 

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**

$NVDA

Economic Calendar

8:30 Weekly initial unemployment claims expected -11K to 264K

8:30 November wholesale inventories expected +0.2%

11:00 EIA Weekly Petroleum Status Report

 

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

NONE

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Mike Herman Mike graduated from the Florida State University with a Real Estate and Bachelor of Finance degree and focused particularly in the field of Behavioral Finance. During his time at the Florida State University, Mike began to trade equities and quickly realized the opportunities that existed in the markets. Through trading, Mike had facilitated relationships with a few very experienced individuals who had an expertise in the private equity field. More specifically, the private funding of small cap start-up companies. After several years of successful deals as a venture capitalist, Mike made the decision to return to work as an independent trader. Throughout the past 7 years of working as an independent trader, Mike has refined his strategy to focus on news driven momentum while factoring in market sentiment and psychology with an emphasis on proper risk management. Mike possesses a unique ability to rapidly decipher critical market moving news and take appropriate action. You can contact Mike at mike@warriortradingnews.com Legal Disclaimer – This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

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