Monday April 10, 2017
Economic Calendar & Watch List
US Futures are edging slightly higher this morning while European markets have slipped into the negative. As we move into the short trading week in the US, markets await global economic data from the US, UK, and Asia that will help gauge the current state of global affairs. US markets are closed for Good Friday, April 14. Asian markets settled mostly lower.
The SPY traded relatively flat throughout Friday’s session testing the 20 day EMA to then close back below. Support will lie at the low of Friday’s range, also a recent pivot, at $234.50, which also coincides with the 50 day SMA at $234.54.Then, $233.91, $233.14, $231.61, $230.62, $229.56, $229.39, $228.31, $228.10 and the 100 day SMA at $229.35. Resistance will lie at the 20 day EMA at $235.44, followed by the high of Friday’s range at $236, then $237.39 and $237.61. New short term descending resistance falls at $237.60, followed by the remaining levels of resistance at $237.97, $238.10, $239.20, $239.44, $239.57, and record highs at $240.32.
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**
10:00 Labor Market Conditions Index
1:00 Treasury Auction
4:00 Fed Chair Janet Yellen speaks
Notable Earnings Before Open
Notable Earnings After Close