Thursday February 8, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are tracking slightly lower this morning led by weakness in the commodity sector due to the reduced Chinese demand and overall volatility which is placing pressure across all markets. US oil production jumped to a 47 year high, according to EIA data, which is weighing on WTI crude prices. Asian stocks closed mostly higher.
Technicals
The SPY consolidated throughout yesterday’s session after it’s recent selloff, encountering resistance at its 50SMA and consolidating at the former ascending support trend line. Support will first lie at yesterday’s low of $267.58, followed by the 100SMA at $263.33, then a pivot at $259, followed by long term ascending support at $256.85, then pivots at $255.63, $254.32, and the 200SMA at 253.46. Resistance will lie at the 50SMA at $271.53, followed by yesterday’s high of $272.36, then a pivot at $275.45, the 20EMA at $275.72, a pivot at $280, then $284.10, and all time highs at $286.63.
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**
IRBT, YELP, GRUB
Economic Calendar
4:50 Fed Pres. Kaplan Speaks
8:30 Weekly Unemployment Claims, expected 235k
9:00 Fed Pres. Kashkari Speaks
9:00 PM Fed Pres. George Speaks
Notable Earnings Before Open
CVS Health (CVS)- EPS Est. $1.88
Tyson Foods (TSN) – EPS Est. $1.51
Twitter (TWTR) – EPS Est. $0.06
GrubHub (GRUB) – EPS Est. $0.24
Notable Earnings After Close
NVIDIA (NVDA) – EPS Est. $1.16
Activision Blizzard (ATVI) – EPS Est. $0.91
Expedia (EXPE) – EPS Est. $0.91
FireEye (FEYE) – EPS Est. $-0.20
