Morning Notes
US Futures are slightly lower this morning along with European stocks. There were setbacks in the GOP Senate healthcare bill which drove the dollar down to 10 month lows. Asian stocks ended mixed.
Technicals
The SPY (NYSE:SPY) tested Friday’s record highs throughout yesterday’s session then closed slightly lower on light volume. Support will lie at the low of yesterday’s range $245.33, followed by $244.31, $243.76, gap entry at $243.30, the 20 EMA at $243.14, then gap fill at $242.55. Support continues at the 50 SMA at $241.97, followed by $240.85, and the near term support pivot at $240.65. Resistance will lie at the high of yesterdays range at $245.91, followed by Friday’s record high at $245.9 and ascending resistance at $246.40.
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**
Netflix Inc (NASDAQ:NFLX)
HOG (NYSE:HOG)
Economic Calendar
0830 ET Import and Export prices
0855 ET Redbook
1000 ET Housing Market Index
Notable Earnings Before Open
Johnson & Johnson (NYSE:JNJ): Est EPS $1.79
Bank of America Corporation (NYSE:BAC): Est EPS $0.43
Novartis AG (NYSE:NVS): Est EPS $1.16
UnitedHealth Group Incorporated (NYSE:UNH): Est EPS $2.38
Goldman Sachs Group, Inc. (NYSE:GS): Est EPS $3.51
Lockheed Martin Corporation (NYSE:LMT): Est EPS $3.09
Harley-Davidson, Inc. (HOG): Est EPS $1.37
Notable Earnings After Close
International Business Machines Corporation (NYSE:IBM): Est EPS $2.73
CSX Corporation (NASDAQ:CSX): Est EPS $0.59
United Continental Holdings Inc (NYSE:UAL): Est EPS $2.47