Thursday March 7, 2019
Economic Calendar & Watch List
US Futures and European shares are slightly lower in early trading. Investors will be watching for news coming from the ECB regarding economic forecasts in the eurozone in a press conference given by ECB’s Draghi this morning. Markets seem to be taking pause following the push to recent highs after optimism of a deal regarding the US/ China trade war. Asian markets settled the session mixed.
The SPY drifted through yesterday’s session, but continues to remain over the 20EMA. Support will first found at the near term support of $276.1 and the 20EMA, followed closely by the $275.5 pivot, then the 200EMA at $274.82, $270, the 100SMA at $267.68. 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**
8:30 Weekly Unemployment Claims, est. 220k
8:30 Productivity and Costs
12:15 Fed Pres. Brainard Speaks
Notable Earnings Before Open
Burlington Stores (BURL) – EPS Est. $2.73
Kroger (KR) – EPS Est. $0.53
Notable Earnings After Close
Costco Wholesale (COST) – EPS Est. $1.67