Tuesday March 5, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are slightly higher in early trading. Stocks started higher in yesterday’s session on prospects that a deal may be reached in the US/China trade war, but waned into the session. Asian markets settled the session mixed.
Technicals
The SPY gapped up to open at the important $281.2 pivot level and failed to hold that in yesterday’s session. Support will first found at the near term support of $276.1 followed closely by the $275.5 pivot confluence with the 20EMA, then the 200EMA at $274.75, $270, the 100SMA at $267.87. 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**
TSLA, TGT, CTRP
Economic Calendar
7:15 Fed Pres. Rosengren Speaks
8:55 Redbook
9:30 Fed Pres. Kashkari Speaks
10:00 New Home Sales
Notable Earnings Before Open
Target (TGT) – EPS Est. $1.53
Kohl’s (KSS) – EPS Est. $2.17
Weibo (WB) – EPS Est. $0.75
Notable Earnings After Close
Urban Outfitters (URBN) – EPS Est. $0.78
Ross Stores (ROST) – EPS Est. $1.14
