Economic Calendar & Watch List 8/10/2017

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Thursday August 10, 2017


Economic Calendar & Watch List


Morning Notes

US Futures are moderately lower this morning while European stocks also trade lower on continued tensions between the US and North Korea. Asian stocks closed predominantly lower.



The SPY opened back below the ascending resistance to start Wednesday’s session and remained choppy for the majority of the day before rallying to close just below this significant resistance point. Support will lie at the low of yesterday’s range at $246.06, followed by the short term pivot point at $245.70, then $244.67, the 50 SMA at $244.52, and $244.31. Further support lies at $243.76, then gap entry at $243.30 and gap fill at $242.55. Resistance will lie at the high of yesterday’s range at 247.31 followed by the record high of Tuesday’s range at $248.91.


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

0830  Weekly Unemployment Claims

0830  July Producers Price Index

1000  Fed Pres. Dudley Speaks

1030  EIA Natural Gas Report

1400  Treasury Budget


Notable Earnings Before Open
Macy’s (M) – EPS Est. $0.44

Kohl’s (KSS) – EPS Est. $1.17


Notable Earnings After Close

NVIDIA (NVDA) – EPS Est. $0.69

Snap (SNAP) – EPS Est. $-0.29

Nordstrom (JWN) – EPS Est. $0.61

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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.