Friday March 2, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are modestly lower while European stocks are off by over -1.5%.Stocks are under pressure after news that the US would impose tariffs on steel imports which caused concern for the economic outlook. Asian stocks closed predominantly lower.
Technicals
The SPY remained under pressure on accelerated volume during yesterday’s session breaking down through the critical support at $270 and finding support at its 100SMA at $266. Support will first lie at yesterday’s lows and the 100SMA at $266.17, followed by pivots at $264.30, $263.31, $261.66, then ascending support at $258.80, and the 200SMA at $255.75. Resistance will lie at the major pivots at $270 and $275.45, followed by $278.92, then 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**
FL, JD, BABA
Economic Calendar
1:00 Baker-Hughes Rig Count
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE