Tuesday, April 7, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets continue to push higher with optimism that the global pandemic is slowing. However, uncertainty still abounds as analysts opinions widely vary. Asian stocks settled the session mostly higher.
Technicals
The SPY exhibited strength in yesterday’s session gapping higher to start the day and then pushing above and holding above the 20EMA. Support will first be found at descending support near $269, then the 20EMA at $259.86, $256.35, $247.68, followed by $242.21, $233.76, $228.02, and $218.26. Resistance will be found at $273.09, $281.5, gap fill at $290.23, and the 200SMA at $301.47.
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**
CCL, DAL
Economic Calendar
8:55 Redbook
10:00 JOLTS
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
