Friday April 13, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher in early trading. Investor fears are starting to subside about a possible trade war after it appears negotiations will take place between the US and China. Strength in the energy sector is also helping propel stocks to the upside. Asian stocks closed mixed to end the week.
Technicals
The SPY was range bound in yesterday’s session, trading between the 20EMA and the 267 pivot. This morning the SPY is holding above the 20EMA which it retested overnight and is now pushing higher. Support will first lie at the 20EMA at 265.02, followed by $263, and $260, then the 200SMA at $259.47, $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 $267 pivot, 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**
Economic Calendar
7:30 Fed Pres. Rosengren Speaks
9:00 Fed Pres. Bullard Speaks
10:00 Consumer Sentiment
10:00 JOLTS
1:00 Fed Pres. Kaplan speaks
Notable Earnings Before Open
Citigroup (C) – EPS Est. $1.62
J P Morgan Chase (JPM) – EPS Est. $2.28
PNC Financial Services (PNC) – EPS Est. 2.42
Wells Fargo (WFC) – EPS Est. $1.07
Notable Earnings After Close
NONE