Morning Notes
US Futures are tracking relatively flat this morning while European markets drift slightly lower. The Nasdaq and S&P 500 both hit record highs throughout this weeks sessions. Asian stocks are ending the week slightly negative.
Technicals
The SPY (NYSE:SPY) retested the former ascending resistance and held during yesterday’s session, again posting another record close. Support will lie at the low of yesterday’s range of $246.47 which coincides with the former ascending resistance. Support continues at $246.01, followed by the gap entry of $246.01, then gap fill of $245.72, then $244.67, $244.31, the 20 EMA at $244.01, $243.76, gap entry at $243.30, then gap fill at $242.55. Further support lies at the 50 SMA at $242.39, followed by $240.85, and the near term support pivot at $240.65. Resistance will lie at yesterday’s record high of $247.42.
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**
NONE
Economic Calendar
NONE
Notable Earnings Before Open
General Electric Company (NYSE:GE) – Est EPS $0.25
Honeywell International Inc. (NYSE:HON) – Est EPS $1.78
Colgate-Palmolive Company (NYSE:CL) – Est EPS $0.72
Schlumberger NV (NYSE:SLB) – Est EPS $0.30
Notable Earnings After Close
NONE