Tuesday April 17, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are modestly higher this morning in early trading. Markets are higher with good expectations coming into this earnings season. NFLX is helping push the tech sector higher as it outperformed in its earnings, sitting up 7%. Asian stocks settled mostly mixed on the session.
Technicals
The SPY traded around its $267 pivot in yesterday’s session and closed the day positive. Support will first lie at the 20EMA at 265.25, followed by the critical pivot at $264.86, then $263, $260, the 200SMA at $259.71, 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 $269.57, 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.
**Others On Watch**
NFLX, GS
Economic Calendar
8:55 Redbook
9:15 Industrial Production
9:15 Fed Pres. Williams Speaks
10:00 Fed Pres. Quarles Speaks
11:00 Fed Pres. Harker Speaks
1:40 Fed Pres. Evans Speaks
Notable Earnings Before Open
Johnson & Johnson (JNJ) – EPS Est. $2.01
UnitedHealth Group (UNH) – EPS Est. $2.92
Goldman Sachs (GS) – EPS Est. $5.67
Notable Earnings After Close
International Business Machines (IBM) – EPS Est. $2.39
CSX Corporation (CSX) – EPS Est. $0.66
United Continental Holdings (UAL) – EPS Est. $0.45