Economic Calendar & Watch List 8/4/2017

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Friday August 4, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are higher this morning while European shares were flat in early trading ahead of the monthly payrolls report. Income growth and other metrics will be key indicators scrutinized by investors for a measure of growth in the US economy. Asian stocks ended the week mixed.

 

Technicals

The SPY consolidated just beneath the trendline during Thursday’s trading session and is exhibiting weakness after a selloff late yesterday. Support will lie at the low of yesterday’s range at $246.64, then $246.37, followed by $246.13, the 20 EMA at $245.92, the short term pivot point at $245.70, then $244.67, $244.31 and the 50 SMA at $244.03. 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 $247.34, followed by $247.60 and 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  July non-farm payrolls expected +180k, July private payroll expected +175k

0830  Trade Balance Est. -44.5B

0945  July PMI manufacturing index expected -0.1 to 53.1

1000  July ISM manufacturing index expected -1.4 to 56.4

1000  June construction spending expected +0.5%

 

Notable Earnings Before Open
Cigna Corporation (CI) – EPS Est. $2.48

Newell Brands Inc. (NWL) – EPS Est. $0.86

 

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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