Hot Stocks To Watch 3/6/2018

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Tuesday March 6, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures along with European stocks are slightly higher in early trading. US stocks gained on the news that the US may not impose tariffs on steel imports if the new NAFTA deal is signed. Global markets also gained on the easing tensions with North Korea after talks of denuclearization. Asian stocks settled mostly higher.

 

Technicals

The SPY continued its rally from the 100SMA test on Friday and reclaimed a major pivot level at $270 during yesterday’s session to then hit resistance at the 20EMA and former ascending support line. Support will first lie at $270, followed by yesterday’s low of 267.61, the 100SMA at $266.50, Friday’s low at $264.82, then pivots at $264.30, $263.31, $261.66, ascending support at $259.20, and the 200SMA at $256.08. Resistance will lie at the $275.45 pivot, 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**

YY, BZUN, NVDA, NFLX

Economic Calendar

 8:55  Redbook

10:00  Factory Orders

 7:00  Fed Pres. Brainard Speaks

 8:30  Fed Pres. Kaplan Speaks

 

Notable Earnings Before Open

Target (TGT) – EPS Est. $1.39

Perrigo (PRGO) – EPS Est. $1.24

Macy’s (M) – EPS Est. $2.69

 

Notable Earnings After Close

Ross Stores (ROST) – EPS Est. $0.93

Autodesk (ADSK) – EPS Est. $-0.33

Urban Outfitters (URBN) – EPS Est. $0.63

 

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