Monday February 12, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are trending slightly lower along with European stocks in early morning trading. Energy stocks are weighing on markets as new data is showing US production may counter the OPEC production cuts already in place. European stocks are slipping on weakness in export stocks. Asian markets closed predominantly mostly higher.
Technicals
The SPY continued the rebound from Friday in yesterday’s session, consolidating at and closing above its 100SMA. Support will first lie at yesterday’s low of $261.66, then the 200SMA at $253.81, recent lows at $252.92, followed by a pivot at $250.15 and $248.08. Resistance will lie at yesterday’s high of $267.01, followed by $268.17, the 50SMA at $271.50, then the 20EMA at $272.24, and pivots at $272.36, $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**
WB, NVDA
Economic Calendar
8:00 Fed Pres. Meester Speaks
8:55 Redbook
Notable Earnings Before Open
Pepsico (PEP) – EPS Est. $1.30
Weibo (WB) – EPS Est. $0.53
Notable Earnings After Close
Baidu (BIDU) – EPS Est. $1.65
Twilio (TWLO) – EPS Est. $-0.18
