Economic Calendar & Watch List 8/11/2017

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Friday August 11, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are drifting lower this morning while European stocks trade lower by nearly -1%. Heightened volatility and tensions with North Korea continue to weigh on markets. President Trump gave a strict warning to North Korea to refrain from missile tests near Guam. Asian stocks tumbled to end the week.

 

Technicals

The SPY sold off on accelerated volume throughout yesterday’s session, ending on the lows. Support will lie at the low of yesterday’s range at $243.70, followed by gap entry at $243.30 and gap fill at $242.55. Support continues at $240.85 and the 100 SMA as well at $240.85. Resistance will lie at the 20 EMA at $246.16, followed by the the high of yesterday’s range at $246.44, $247.25, the ascending resistance at $247.6 and record highs 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

8:30 July CPI expected +0.2%

9:40 Dallas Fed President Robert Kaplan speaks

11:30 Minneapolis Fed President Neel Kashkari speaks

 

Notable Earnings Before Open
NONE

 

Notable Earnings After Close

NONE

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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 mike@warriortradingnews.com 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.

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