Tuesday April 2, 2019
Economic Calendar & Watch List
US Futures and European shares are flat in early trading. Markets are taking pause following yesterday’s run up on positive Chinese manufacturing data as more data is showing the impact of the trade war on other major economies. BA’s 737 MAX fleet remains grounded as the company is still working on a software fix, but it needs “additional work”. Asian markets settled the session mostly higher.
The SPY exhibited strength in yesterday’s session and posted new 6 month highs. Support will first found at the $281.2 pivot, followed by the 20EMA at $280.46, the $275.5 pivot and the 200SMA at $275.37, then pivot low of $272.42, $270, and the 100SMA at $269.07. Resistance first lies at $286.6 and $288.8
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 Durable Goods Orders
Notable Earnings Before Open
Walgreens Boots Alliance (WBA) – EPS Est. $1.73
Notable Earnings After Close
GameStop (GME) – EPS Est. $1.59