Thursday April 12, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are modestly higher in early trading. Investors are waiting to see if a decision on military action in Syria will take place. With the tension in the area, crude prices are trading at over a 3 year high. Asian stocks closed mostly lower on the day.
Technicals
The SPY again tested its 20EMA and failed to hold that level into the close for yesterday’s session. This morning, the SPY is gapping higher and holding above the 20EMA. Support will first lie at the recent low of $263, followed by the pivot at $260, then the 200SMA at $259.36, $256.60, $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 20EMA and pivot at $265, then the 100SMA at $269.31, followed by $266.70, then the critical pivot at $270, and 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**
BBBY
Economic Calendar
8:30 Weekly Unemployment Claims, expected 230k
5:00 Fed Pres. Kashkari Speaks
Notable Earnings Before Open
Delta Air Lines (DAL) – EPS Est. $0.73
Notable Earnings After Close
NONE
