Wednesday April 4, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are sharply lower in early trading along with European markets. Overnight news out of China was announced that it would impose a 25% tariff on another $50B in US exports as a retaliatory move to the proposed US tariffs. Asian stocks closed slightly lower to end the session.
Technicals
The SPY consolidated around its 200SMA in yesterday’s session and closed the day back above. This morning, the SPY is gapping below its 200SMA and support will first lie yesterday’s low of $256.84, followed by $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 $266.37, then the 100SMA at $269.02, 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**
BABA, TSLA, NVDA
Economic Calendar
8:15 ADP Employment Report
9:45 Fed Pres. Bullard Speaks
10:30 EIA Petroleum Status Report
11:00 Fed Pres. Meester Speaks
Notable Earnings Before Open
CarMax Inc (KMX) – EPS Est. $0.89
Notable Earnings After Close
NONE
