Monday April 17, 2017
Economic Calendar & Watch List
US Futures are tracking lower this morning on carryover from Thursday’s session as we approach 3 week lows. European markets are closed today amidst the Easter holiday. Asian stocks closed mostly mixed.
The SPY drifted lower throughout Thursday’s session into the Easter holiday closing out on 2 week lows. Support will at the low of Thursday’s range at $232.51, followed by $231.61, $230.62, and the 100SMA at $230. Resistance will lie at the high of Thursday’s range at $234.49, followed by both the 50SMA and 20EMA at $235.02. Then, $234.96, $235.18, and then the recent pivot point at $236.30. Short term descending resistance falls at $237.10, followed by the remaining levels of resistance at $237.39, $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**
8:30 Empire State Manufacturing Index Est. 15.2
10:00 NAHB Housing Market Index Est. 70
Notable Earnings Before Open
Notable Earnings After Close
Barracuda Networks (CUDA) – EPS Est. $0.15
Netflix, Inc. (NFLX) – EPS Est. $0.37
United Airlines (UAL) – EPS Est. $0.34