Monday March 5, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are modestly lower while European stocks are slightly higher in early trading. US stocks remain under pressure after news of the new US tariffs on steel imports and the expected resulting global implications. European shares were slightly higher with positive political news from Germany, but elections in Italy with no decisive winner limited those gains. Asian stocks closed predominantly lower to start the week.
Technicals
The SPY opened and found support at is 100SMA then rallied to end the week just below the major pivot at $270. Support will first lie at the 100SMA at $266.31, followed by Friday’s lows at $264.82, then pivots at $264.30, $263.31, $261.66, ascending support at $258.95, and the 200SMA at $255.90. Resistance will lie at the major pivots of $270 and $275.45, then followed by $278.92, $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**
Watching Scanners
Economic Calendar
10:00 ISM Non-Manufacturing Index
1:15 Fed Vice Chairman Quarles Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
YY Inc. (YY) – EPS Est. $1.74
