Wednesday June 14, 2017
Economic Calendar & Watch List
US Futures are tracking slightly higher while European stocks also trade higher by over +0.8% as the rebound in tech stocks continue. Global economic optimism jumps after the IMF boosted its GDP forecast for China in 2017. The price of crude oil slipped -1% after API data showed a build in yesterday’s report. Asian stocks closed mostly lower.
The SPY edged higher throughout yesterday’s session approaching recent record highs. Support will lie at the low of yesterday’s range at $243.58, followed by $243.42, $242.38, and $241.95 which coincides with the 20 EMA. Support continues at $241.64, the near term support pivot at $240.65, then $239.93, $239.51, $238.82, and the 50 SMA at $238.78. Resistance will lie at the high of yesterday’s range at $244.61, followed by the record highs at $245.01.
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 May CPI expected unchanged
8:30 May retail sales expected +0.1%
10:00 April business inventories expected -0.1%
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC announces interest rate decision, .25% hike expected
Notable Earnings Before Open
Notable Earnings After Close
Jabil Circuit (JBL) – EPS Est. 0.22