Hot Stocks To Watch 4/4/2018

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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

 

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