Monday April 30, 2018
Economic Calendar & Watch List
US Futures and European shares are trending higher in early trading. M&A activity between S and TMUS is helping to boost markets along with stronger than expected economic data from China. Asian stocks started the week higher.
The SPY gapped slightly higher to start Friday’s session and consolidated and closed near the important $267 pivot. Support will first lie at the $265 pivot followed by the 200SMA at $260.82, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at pivots at the critical pivots of $267 and $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**
8:30 Personal Income and Outlays
9:45 Chicago PMI
Notable Earnings Before Open
McDonald’s (MCD) – EPS Est. $1.67
Allergan (AGN) – EPS Est. $3.36
Loews (L) – EPS Est. $0.78
Notable Earnings After Close