Friday March 1, 2019
Economic Calendar & Watch List
US Futures and European shares are higher in early trading. Markets are getting a boost this morning following positive trade comments from Advisor Kudlow stating “fantastic” progress in the negotiation. TSLA is in the headlines after announcing yesterday that they will offer a $35,000 Model S, however they do not expect to be profitable in the 1st quarter of 2019. Asian markets settled the session mostly higher.
The SPY gapped slightly lower to start yesterday’s session and consolidated below the $279.5 area. Looking to gap higher this morning in the $280’s following positive trade comments. Support will first found at the near term support of $276.1 followed closely by the $275.5 pivot, then the 200SMA and 20EMA confluence at $274.68, followed by $270, and the 100SMA at $268.05. Resistance first lies at $281.2 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**
NTNX, PBYI, FL, ZS
8:30 Personal Income and Outlays
10:00 ISM Manufacturing Index
10:00 Consumer Sentiment
12:50 Fed Pres. Bostic Speaks
Notable Earnings Before Open
Footlocker (FL) – EPS Est. $1.39
Notable Earnings After Close