Thursday February 15, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early morning trading. US stocks are up on carryover from strength in the Asian and European markets and ahead of the weekly unemployment data that will be released this morning. The VIX, a market volatility indicator, hit a 1 week low which helps support the bounce we are seeing in the markets. Asian markets closed the session mostly higher.
Technicals
The SPY exhibited strength in yesterday’s session breaking out of its recent consolidation and closing near its former ascending support resistance line. Support will first lie at yesterday’s low at $264.30, followed by the 100SMA at $264.04, then $263.31, $261.66, ascending support at $257.30, then the 200SMA at $254.10, recent lows at $252.92, and pivots at $250.15 and $248.08. Resistance will lie at yesterday’s high of $270.00, followed by $267.01, then $268.17, confluence of the 50SMA and the 20EMA at $271.42, 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**
NTAP, CSCO, YNDX, TRIP
Economic Calendar
8:30 Weekly Unemployment Claims, expected 229k
8:30 Philadelphia Fed Business Outlook Survey
9:15 Industrial Production
Notable Earnings Before Open
Incyte (INCY) – EPS Est. $-0.49
Shopify (SHOP) – EPS Est. $-0.12
CyberArk Software (CYBR) – EPS Est. $0.22
Notable Earnings After Close
CBS (CBS) – EPS Est. $1.15
LogMein (LOGM) – EPS Est. $0.92