Monday April 16, 2018
Economic Calendar & Watch List
US Futures and European shares are modestly higher this morning on news that Russia will not seek retaliatory efforts after the airstrikes in Syria by the U.S., French and UK. ASian stocks settled mostly mixed.
The SPY was traded back above the 20EMA early Friday then sold off into the late afternoon yet still closed above the 20EMA. Support will first lie at the 20EMA at 265.15, followed by the critical pivot at $264.86, then $263, $260, the 200SMA at $259.59, then $256.60, $254.67, a swing low at $257.83, and the low of the February sell down at $252.92. Resistance will first lie at the 100SMA at $269.47, followed by the $270 pivot, 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.
8:30 Retail Sales
8:30 Empire Business Manufacturing Survey
10:00 Business Inventories
10:00 Housing Market Index
Notable Earnings Before Open
Bank of America(BAC) – Eps Est. $0.59
JB Hunt(JBHT) – Eps Est. $1.08
Notable Earnings After Close