Tuesday February 27, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are both modestly lower in early trading. Investors are awaiting the first public comments from new Fed Chair Jerome Powell. Asian stocks closed mostly mixed on the session.
Technicals
The SPY gapped higher to open yesterday’s session, tested the critical pivot at $275.45 and moved higher from the recent consolidation. Support will first lie at $275.45 pivot, followed by the 50SMA at $272.77, then the 20EMA at $272.30, and a major support pivot at $270. Support continues at the 100SMA at $265.64, then $264.30, $263.31, $261.66, ascending support at $258.35, and the 200SMA at $255.28. Resistance will lie at yesterday’s high of $278.01, followed by pivots at $280, $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**
PANW, M, AKRX
Economic Calendar
8:30 Durable Good Orders
8:30 International Trade in Goods
8:55 Redbook
10:00 Fed Chair Powell Speaks
Notable Earnings Before Open
AutoZone (AZO) – EPS Est. $8.81
Perrigo (PRGO) – EPS Est. $1.24
Macy’s (M) – EPS Est. $2.69
Notable Earnings After Close
Workday (WDAY) – EPS Est. $-.035
Square (SQ) – EPS Est. $-0.04
Priceline (PCLN) – EPS Est. $14.12
