Wednesday February 27, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are lower in early trading. Investors continue to process information that was presented to congress yesterday by Fed Chair Powell with a mostly dovish testimony into the strength of the US economy and interest rate hikes. Eyes are still on companies reporting earnings as the season winds down. Asian markets settled the session mostly higher.
Technicals
The SPY continued to remain below the important $281 pivot area in yesterday’s session and we find it lower this morning. Support will first found at the near term support of $276.1 followed closely by the $275.5 pivot, then the 200SMA at $274.61, followed by the 20EMA at $273.67, $270, and the 100SMA at $268.30. Resistance first lies at $281 and $286.6.
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**
PANW, WTW
Economic Calendar
8:30 International Trade In Goods
10:00 Fed Chair Powell Speaks
Notable Earnings Before Open
Best Buy (BBY) – EPS Est. $2.57
Lowe’s (M) – EPS Est. $0.80
Notable Earnings After Close
Square (SQ) – EPS Est. $0.13
L Brands (LB) – EPS Est. $2.06
Box (BOX) – EPS Est. $0.02