Friday February 16, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are both trading at weekly highs in early trade. Strength in metals and crude prices are driving the overall market higher. Asian markets were closed due to holiday.
Technicals
The SPY continued higher after its recent bounce off the 200SMA in last Friday’s session and broke out of its recent consolidation and closing near its former ascending support resistance line. Support will first lie at the 50SMA at $271.80, followed by the 20EMA at $271.63, then yesterday’s low at $264.30, the 100SMA at $264.28, then $263.31, $261.66, ascending support at $257.30, then the 200SMA at $254.27, 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 and pivots at $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**
ANET, PCRX, BABA
Economic Calendar
8:00 Housing Starts
10:00 Consumer Sentiment, expected 95.5
1:00 Baker-Hughes Rig Count
Notable Earnings Before Open
Deere & Company (DE) – EPS Est. $1.13
Coca-Cola Company (KO) – EPS Est. $0.38
J.M. Smucker Company (SJM) – EPS Est. $2.16
Notable Earnings After Close
NONE