Monday, March 9, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are sharply lower in early trading. Markets tumbled overnight with a possible price war beginning in the oil markets between Saudi Arabia and Russia and another jump in coronavirus cases. Investors are now starting to see the economic impact of the coronavirus with companies pulling forward guidance and recommendations to avoid travel from many countries. Asian stocks settled the session lower.
Technicals
The SPY consolidated near the $292 ascending support in Friday’s session and will be gapping sharply lower to start today’s session. Support will first be found at ascending support of $275.25, then $273 and $259.85. Resistance will be found at $281.5, $285.54, gap fill at $290.23, $302.55, the 200SMA at 304.84, $309.65 and the 20EMA at $315.29
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**
RCL, CCL, XLE, XOM
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
Stitch Fix (SFIX) – EPS Est. $0.06
