Tuesday March 28, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat this morning while European stocks trade slightly higher as the price of crude rallies and pushes energy producing stocks higher. Asian stocks closed predominantly higher.
Technicals
The SPY gapped sharply lower at the start of yesterday but moved higher throughout the rest of the session and closed back above the 50 day SMA. Support will lie at the low of yesterday’s range at $231.61, followed by the 50 day SMA at $233.04, then $230.62, $229.56, $229.39, $228.31, $228.10 and the 100 day SMA at $227.31. Resistance will lie at the high of yesterday’s range at $233.92, followed by $235.04, $235.34, the 20 day EMA at $235.49, then $237.61, $237.97, $238.10, $239.20, $239.44, $239.57, and record highs at $240.32.
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**
$TSRO
$CARA
Economic Calendar
8:30 February wholesale inventories expected +0.2%
9:00 January S&P CoreLogic composite-20 home price index expected +0.7%
9:45 March Markit services PMI expected +0.2
10:00 March U.S. consumer confidence (Conference Board) expected -0.8
10:00 March Richmond Fed manufacturing index expected -2
12:45 Kansas City Fed President Esther George speaks
12:50 Fed Chair Janet Yellen speaks
1:00 Dallas Fed President Robert Kaplan speaks
Notable Earnings Before Open
Carnival Corp. (CCL) – EPS Est. $0.35
Notable Earnings After Close
Restoration Hardware (RH) – EPS Est. $0.06
