Monday April 23, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are relatively flat this morning on positive comments from trade secretary Mnuchin that he sees potential in reaching an agreement on trade differences with China. Interest rates are moving higher and limiting gains in stocks after comments from San Francisco Fed President Williams said it would make sense to continue raising rates through next year. Asian stocks closed mostly lower.
Technicals
The SPY drifted throughout Friday’s session, tested and failed the 20EMA and closed the day just below the $267 pivot. Support will first lie at the 20EMA at 266.44, followed by the the critical pivot at $264.86, then $263.36, $260, the 200SMA at $260.25, then $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at pivots at the critical pivot at $270 which also coincides with the 100SMA, then $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**
$AAPL
$HAS
$PRTA
Economic Calendar
9:45 PMI Composite Flash
Notable Earnings Before Open
Kimberly-Clark (KMB) – EPS Est. $1.71
Hasbro (HAS) – EPS Est. $0.33
Alaska Air (ALK) – EPS Est. $0.11
Notable Earnings After Close
Alphabet (GOOGL) – EPS Est. $9.21
Whirlpool (WHR) – EPS Est. $2.92
