Monday June 4, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are up this morning to start the week. Markets are still riding high with renewed economic outlook after a better than expected non-farm payrolls report on Friday. European stocks are also gaining with easing of political risks in Italy after a coalition government was formed. Asian markets settled mostly higher to begin the week with easing in geopolitical risks in North Korea.
Technicals
The SPY continued its consolidation run in Friday’s session and is gapping slightly higher to start off the week. Support will first lie at the 20EMA at $270.90, followed by the 100SMA at 270.68 and the $270 pivot, then the $267 pivot, $265. It continues at the 200SMA at $263.64, 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**
NKTR, AAPL, FB
Economic Calendar
NONE
Notable Earnings Before Open
Palo Alto Networks (PANW) – EPS Est. $0.96
Dell Technologies (DVMT) – EPS Est. $1.16
Notable Earnings After Close
NONE