Thursday, April 9, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets are higher following the Unemployment Claim data and news that the Fed is injecting an additional $2.3T in loans to support the economy. OPEC is meeting today to discuss a production cut in crude with a reduction in global demand. Asian stocks settled the session mostly higher.
Technicals
The SPY moved higher in yesterday’s session and remained above the 20EMA support. Support will first be found at $271.3, descending support near $265, then the 20EMA at $261.67, $256.35, $247.68, followed by $242.21, $233.76, $228.02, and $218.26. Resistance will be found at $281.5, gap fill at $290.23, and the 200SMA at $301.23.
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**
DIS, OXY, BILI
Economic Calendar
8:30 Unemployment Claims, exp. 5000k
8:30 Producer Price Index
10:00 Fed Chair Powell Speaks
1:00 Fed Pres. Daly Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
