Economic Calendar & Watch List 8/3/2017

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Thursday August 3, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are slightly lower this morning after what has been a strong earnings season backed with a steady economy. European shares were up in early trading with a strong economic outlook from ECB along with the BOE leaving interest rates unchanged.  Asian stocks settled lower on the day.

 

Technicals

The SPY sold in early trading Wednesday, yet managed to edge back higher and reclaim the ascending resistance line. Support will lie at the low of yesterday’s range at $246.37, followed by $246.13, the 20 EMA at $245.82, the short term pivot point at $245.70, then $244.67, $244.31 and the 50 SMA at $243.89. Further support lies at $243.76, the gap entry at $243.30, then gap fill at $242.55. Resistance will lie at yesterday’s high of $247.60 and the record highs at $248.

 

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, UNCH 244k

1000  Factory Orders +2.6% M/M

1030  EIA Natural Gas Report

 

Notable Earnings Before Open
Allergan (AGN) – EPS Est. $3.95

Yum! Brands (YUM) – EPS Est. $0.61

 

Notable Earnings After Close

Activision Blizzard (ATVI) – EPS Est. $0.25

Kraft Heinz Company (KHC) – EPS Est. $0.96

Acacia Communications (ACIA) – EPS Est. $0.09

Yelp (YELP) – EPS Est. $-0.03

 

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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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