Economic Calendar & Watch List 5/15/2017

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Monday May 15, 2017


Economic Calendar & Watch List


Morning Notes

US Futures are pointing to a slightly higher open on the heels of a strong move higher in energy names led by crude oil which is trading higher by +2.9%. European stocks are trading lower after coming off the massive cyber attack against European businesses. Asian stocks closed mostly higher.



The SPY traded in a sideways inside day throughout Friday’s session which made for quiet trading. Support will lie at the low of Friday’s range at $238.67, followed by the 20EMA at $238.02, gap entry at $237.81, gap fill at $237.41, then the beginning of a secondary gap at $236.61, which also coincides with the 50SMA, and finally the recent pivot point at $236.30. Resistance will lie at the high of Friday’s range at $239.43, followed by $239.87, $240.19, 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**


Economic Calendar

8:30 Empire State Manufacturing Index Est. 7.2

10:00 May NAHB housing market index expected unchanged at 68


Notable Earnings Before Open
Digital Ally (DGLY) – EPS Est. -0.29
Notable Earnings After Close
Vip Shop Holdings (VIPS) – EPS Est. 0.16  

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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 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.