Wednesday March 29, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are little changed this morning along with European stocks which are also mostly flat. Continued strength in crude is lifting energy producing stocks after news out of Libya that their production would be dropping due to the country’s largest pipeline going offline. Asian stocks closed mostly mixed.
Technicals
The SPY held the 50 day SMA after reclaiming it on Monday, recouping more than half the move that occurred on Tuesday of last week. Support will lie at the 50 day SMA at $233.20, followed by low of yesterday’s range at $233.14, then $231.61, $230.62, $229.56, $229.39, $228.31, $228.10 and the 100 day SMA at $227.31. Resistance will lie at the 20 day EMA at $235.32, followed by the high of yesterday’s range at $235.81, 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**
VRTX
RH
Economic Calendar
9:20 Chicago Fed President Charles Evans
10:00 February pending home sales expected +2.5%
10:30 EIA Weekly Petroleum Status Report
11:30 Boston Fed President Eric Rosengren speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
lululemon athletica (LULU) – EPS Est. $1.01