Wednesday February 14, 2018
Economic Calendar & Watch List
US Futures and European stocks are trending higher in early morning trading. Investors are awaiting the CPI and retail sales data that is set to come out this morning. European stocks are higher with better than expected industrial production and on target Q4 GDP numbers. Energy stocks are limiting the gains as the latest inventory data showed a rise in US crude inventories. Asian markets closed mostly mixed.
The SPY continued consolidating trading on an inside day while holding support at its 100SMA. Support will first lie at yesterday’s low of $263.31, followed by $261.66, ascending support at $257.20, then the 200SMA at $253.94, recent lows at $252.92, and pivots at $250.15 and $248.08. Resistance will lie at yesterday’s high of $266.92, followed by $267.01, then $268.17, confluence of the 50SMA and the 20EMA at $271.52, and pivots at $272.36, $275.45, $280, $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**
BIDU, CMG, OLED
8:30 Consumer Price Index, expected 2.1% Y/Y
8:30 Retail Sales, expected 0.3% M/M
10:30 EIA Petroleum Status Report
Notable Earnings Before Open
Bunge (BG) – EPS Est. $1.66
SodaStream (SODA) – EPS Est. $0.78
Molson Coors Brewing (TAP) – EPS Est. $0.56
Notable Earnings After Close
Cisco (CSCO) – EPS Est. $0.53
Marriott (MAR) – EPS Est. $1.00
Chemours (CC)- EPS Est. $0.95
TripAdvisor (TRIP) – EPS Est. $0.04