Friday June 1, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are flat this morning in early trading. Investors are waiting on the Jobs report this morning to judge strength in the economy. Political uncertainty still surrounds Italy and that is, still, limiting gains in European markets. Asian markets settled higher to close the week.
Technicals
The SPY came back down and its 20EMA and 100SMA support levels in yesterday’s session ending the day near the lows and continuing its consolidation pattern. Support will first lie at the 100SMA at 270.68, followed by the 20EMA at $270.62 and the $270 pivot, then the $267 pivot, $265. It continues at the 200SMA at $263.50, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie 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**
LULU, BIG, WDAY, ULTA
Economic Calendar
8:30 Nonfarm Payrolls, expected 190k
8:55 Fed Pres. Kashkari Speaks
10:00 ISM Manufacturing Index
Notable Earnings Before Open
Big Lots (BIG) – EPS Est. $1.19
Notable Earnings After Close
NONE
