Hot Stocks To Watch 3/7/2018

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Wednesday March 7, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures along with European stocks are down sharply in early trading. Markets are sliding on concern with the US trade policy. Yesterday a key economic advisor to Pres. Trump and proponent of free trade, resigned his position. This has fueled concern that Pres. Trump will go ahead with his planned tariffs on steel and aluminum and possible extra tariffs on a broad range of chinese imports. Asian stocks settled mostly lower.

 

Technicals

The SPY paused its rally and consolidated throughout yesterday’s session in a constricted range. Support will first lie at $270, followed by $267.61, the 100SMA at $266.68, Friday’s low at $264.82, then pivots at $264.30, $263.31, $261.66, ascending support at $259.45, and the 200SMA at $256.26. 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**

DLTR, ADSK, ROST, MOMO

Economic Calendar

 7:30  Fed Pres. Dudley Speaks

 8:00  Fed Pres. Bostic Speaks

 8:20  Fed Pres. Dudley Speaks

 8:30  International Trade, expected $-55.1b

10:30  EIA Petroleum Status Report

 

Notable Earnings Before Open
Dollar Tree (DLTR) – EPS Est. $1.90

Momo (MOMO) – EPS Est. $0.42

 

Notable Earnings After Close

Costco (COST) – EPS Est. $1.45

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