Wednesday February 7, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are pointing slightly lower this morning after yesterday’s strong rebound while European stocks are trading higher after an ease in German political tensions. Weakness in the energy sector is weighing on markets as the price of crude touches a 2 week low. Asian stocks closed mostly mixed.
Technicals
The SPY opened lower to start yesterday’s session and immediately got bought on massive volume to retest a former ascending support trend line. Support will first lie at a pivot at 259, followed by long term ascending support at $256.75, then pivots at $255.63, and $254.32,and the 200SMA at 253.31. Resistance will lie at the 50SMA at $271.38, followed by a pivot at $275.45, the 20EMA at $276.53, 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**
HAS, WYNN, CMG
Economic Calendar
8:30 Fed Pres. Dudley Speaks
10:30 EIA Petroleum Status Report
11:15 Fed Pres. Evans Speaks
5:20 Fed Pres. WIlliams Speaks
Notable Earnings Before Open
Humana (HUM) – EPS Est. $2.00
Hain Celestial Group(HAIN) – EPS Est. $0.42
Hasbro, Inc. (HAS) – EPS Est. $1.82
Notable Earnings After Close
Tesla (TSLA) – EPS Est. $-3.75
NetEase (NTES) – EPS Est. $1.52
iRobot (IRBT)- EPS Est. $0.25
Take-Two Interactive Software (TTWO) – EPS Est. $0.84