Thursday April 19, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are ticking slightly lower this morning. Higher interest rates are weighing on markets as the government adjusted its inflation expectation. Strength in the energy sector is limiting the losses after a surprise drop in US inventories. Asian stocks settled the session higher.
Technicals
The SPY tested and was able to hold its critical $270 pivot and 100SMA in yesterday’s session. Support will first lie at the $269.79 pivot and 100SMA, followed by the 20EMA at 266.16, then the critical pivot at $264.86, $263, $260, the 200SMA at $260, then $256.60, $254.67, a swing low at $257.83, and the low of the February sell down at $252.92. Resistance will lie at 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**
TSM, AAPL
Economic Calendar
8:00 Fed Pres. Brainard Speaks
8:30 Weekly Unemployment Claims, expected 230k
9:30 Fed Pres. Quarles Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
Skechers (SKX) – EPS Est. $0.75