Thursday March 8, 2018
Economic Calendar & Watch List
Morning Notes
US Futures along with European stocks are trending slightly higher in early trading. Markets continue to remain volatile on speculation over what will happen with trade tariffs and possible global trade war. Investors are awaiting to hear what comes from the ECB meeting and press conference later this morning. Asian stocks settled higher on the day with China posting a surge in exports, the highest amount in 3 years.
Technicals
The SPY found support at the critical pivot level of $270 and consolidated around its 20EMA. Support will first lie at $270, followed by $267.61, the 100SMA at $266.86, Friday’s low at $264.82, then pivots at $264.30, $263.31, $261.66, ascending support at $259.70, and the 200SMA at $256.43. Resistance will lie at the 50SMA at $273.41, followed by the $275.45 pivot, then $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**
KR, BURL
Economic Calendar
8:30 Weekly Unemployment Claims, expected 220k
Notable Earnings Before Open
Burlington Stores (BURL) – EPS Est. $2.09
58.com (WUBA) – EPS Est. $0.54
Kroger (KR) – EPS Est. $0.63
Notable Earnings After Close
NONE
