Tuesday February 6, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are off by another -1% this morning after yesterday’s plunge. European stocks are trading lower by over -2.3% at nearly 12 month lows. Ths VIX soared higher causing further liquidation. Asian stocks settled mostly lower.
Technicals
The SPY entered correction territory in yesterday’s session, selling off and accelerating into the afternoon breaking through major support and closed just above the 100SMA on massive volume. Support will first lie at yesterday’s low of $263.31, followed by the 100SMA at $262.96, pivots at $262.71, $260.75, and $259.20 Resistance will lie at the 50SMA at $271.19, followed by the 20EMA at $277.26, a pivot at $280, then $284.10, and all time highs at $286.63.
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**
Watching market action on open
Economic Calendar
8:30 International Trade, expected $-51.9b
8:50 Fed Pres. Bullard Speaks
8:55 Redbook
10:00 JOLTS
Notable Earnings Before Open
General Motors (GM) – EPS Est. $1.32
Allergan (AGN) – EPS Est. $4.74
Notable Earnings After Close
Walt Disney (DIS) – EPS Est. $1.62
Gilead Sciences (GILD) – EPS Est. $1.62
Chipotle Mexican Grill (CMG) – EPS Est. $1.33
