Monday April 3, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat this morning while European stocks trade slightly lower after being bolstered by Eurozone unemployment approaching 8 year lows. Asian stocks closed mostly higher.
Technicals
The SPY reclaimed and held the 20 day EMA during the last two trading sessions but exhibited weakness into the close on Friday, ending Q1. Support will lie at the 20 day EMA at $235.57, followed by the low of Friday’s range at $235.68, then $235.27, $234.72, the 50 day SMA at $233.78, $233.14, $231.61, $230.62, $229.56, $229.39, $228.31, $228.10 and the 100 day SMA at $228.09. Resistance will lie at the high of Thursday’s and Friday’s range at $236.52, followed by $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**
$TSLA
Economic Calendar
9:45 Revised Mar Markit manufacturing PMI
10:00 March ISM manufacturing PMI expected -0.7
10:00 February construction spending expected +1.0%
10:30 New York Fed President William Dudley speaks
3:00 Philadelphia Fed President Patrick Harker
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
