Wednesday April 25, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are down this morning with rising concern over interest rates and inflation concerns. The tech sector weighed on major indexes in yesterday’s session. Disappointing earnings also pulled markets down with CAT issuing some negative guidance for the next quarters. Asian stocks closed lower on the day.
Technicals
The SPY failed to hold its gap higher in the morning falling through its 20EMA and drifting through the rest of the session. Support will first lie at the 20EMA at 265.83, followed by the the critical pivot at $264.86, then $263.36, the 200SMA at $260.48, then $256.60, $260, $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**
EW, BA
Economic Calendar
10:30 EIA Petroleum Status Report
Notable Earnings Before Open
Boeing (BA) – EPS Est. $2.56
Anthem (ANTM) – EPS Est. $4.91
Twitter (TWTR) – EPS Est. $0.01
Notable Earnings After Close
Facebook (FB) – EPS Est. $1.36
Visa (V) – EPS Est. $1.02
Qualcomm (QCOM) – EPS Est. $0.55
Chipotle Mexican Grill. (CMG) – EPS Est. $1.53
PayPal (PYPL) – EPS Est $0.41
