Thursday February 22, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are slightly higher and European stocks are lower in early trading. Stocks are being bolstered by the positive comments from Fed Gov. Quarles that US economy is in the best shape since the crisis. European stocks are under pressure after a lower revision to UK’s Q4 GDP. Asian stocks settled the day mostly lower..
Technicals
The SPY continued its consolidation trend early in yesterday’s session up until the release of the FOMC minutes in the afternoon when it then became under pressure. Support will first lie at the low of yesterday’s range at $269.94, followed by the 100SMA at $264.94, then $264.30, $263.31, $261.66, ascending support at $258, the 200SMA at $254.76, recent lows at $252.92, and pivots at $250.15 and $248.08. Resistance will lie at Friday’s high and pivot at $275.45, followed by pivots at $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**
W, ROKU, AAOI, AAPL, FB
Economic Calendar
8:30 Weekly Unemployment Claims, expected 230k
10:00 Fed Pres. Dudley Speaks
11:00 EIA Petroleum Status Report
12:10 Fed Pres. Bostic Speaks
Notable Earnings Before Open
Wayfair (W) – EPS Est. $-0.79
Sanderson Farms. (SAFM) – EPS Est. $1.07
Notable Earnings After Close
Intuit (INTU) – EPS Est. $0.06
The Trade Desk (TTD) – EPS Est. $0.42
Universal Display (OLED) – EPS Est. $0.82
