Monday February 12, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are trending higher along with European stocks in early morning trading. US markets rebounded from the recent lows during Friday’s session. However, investors are still concerned with the rising US budget deficits. Pres. Trump is scheduled to discuss his budget plan and where the increases in spending are projected to occur. Commodity prices found support and are helping boost markets with a weaker dollar. Asian markets closed their sessions mostly higher to start the week.
Technicals
The SPY sold off and broke recent lows in early trading on Friday to then find support at the 200SMA and subsequently rallying on accelerated volume, closing positive to end Friday’s session. Support will first lie at Friday’s low and the 200SMA at $252.92, followed by a pivot at $250.15 and $248.08. Resistance will lie at Friday’s high of $263.61 which coincides with the 100SMA and followed by $268.17, the 50SMA at $271.45, then $272.36, the 20EMA at $272.93, a pivot at $275.45, $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**
Keeping an eye on scanners for setups
Economic Calendar
NONE
Notable Earnings Before Open
Loews (L) – EPS Est. $0.72
Notable Earnings After Close
Molina Healthcare (MOH) – EPS Est. $0.23
