Monday February 26, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are both modestly higher in early trading. The VIX hit a 3 week low as the volatility in the market continues to recede.The reduced interest rate concerns are helping equity prices. Asian stocks closed predominantly higher to start the week.
Technicals
The SPY traded higher to end the week, closing back above both the 20EMA and 50SMA. Support will first lie at the 50SMA at $272.55, followed by the 20EMA at $271.76, then a major support pivot at $270. Support continues at the 100SMA at $265.38, then $264.30, $263.31, $261.66, ascending support at $258.20, the 200SMA at $255.09, recent lows at $252.92, and pivots at $250.15 and $248.08. Resistance will lie at the recent pivot high 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**
X, NFLX, AAPL
Economic Calendar
8:00 Fed Pres. Bullard Speaks
10:00 New Home Sales
Notable Earnings Before Open
NONE
Notable Earnings After Close
Palo Alto Networks, Inc. (PANW) – EPS Est. $-0.21
Exelixis, Inc. (EXEL) – EPS Est. $0.12
Clovis Oncology, Inc. (CLVS) – EPS Est. $-1.28
