Hot Stocks To Watch 4/3/2018

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Tuesday April 3, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures are slightly higher in early trading after yesterday’s sharp sell off. European markets are modestly lower as they resume trading after the holiday break. Weakness is being lead by the tech sector which caused the markets to tumble throughout yesterday’s session putting the SPY back below its 200SMA. Asian stocks closed slightly lower to end the session.

 

Technicals

The SPY broke its recent consolidation on accelerated selling volume down through the 200SMA and nearly touched February lows. Support will first lie the 200SMA at $258.67,followed by yesterday’s low of $254.67, then the swing low at $257.83, and the low of the February sell down at $252.92. Resistance will first lie at the $265 pivot, followed by the 20EMA at $266.96, then the 100SMA at $269.00, followed by the critical pivot at $270, then pivots at $273, $275.5, $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**

 

Economic Calendar

 8:55  ISM Manufacturing Index

 9:30  Fed Pres. Kashkari Speaks

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

NONE

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Mike Herman Mike graduated from the Florida State University with a Real Estate and Bachelor of Finance degree and focused particularly in the field of Behavioral Finance. During his time at the Florida State University, Mike began to trade equities and quickly realized the opportunities that existed in the markets. Through trading, Mike had facilitated relationships with a few very experienced individuals who had an expertise in the private equity field. More specifically, the private funding of small cap start-up companies. After several years of successful deals as a venture capitalist, Mike made the decision to return to work as an independent trader. Throughout the past 7 years of working as an independent trader, Mike has refined his strategy to focus on news driven momentum while factoring in market sentiment and psychology with an emphasis on proper risk management. Mike possesses a unique ability to rapidly decipher critical market moving news and take appropriate action. You can contact Mike at mike@warriortradingnews.com Legal Disclaimer – This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

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