Friday March 9, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European stocks are slightly lower in early trading. Pres. Trump has imposed tariffs on steel and aluminum, excluding Mexico and Canada. Investors are now going to be watching for retaliatory moves from impacted countries, possibly sparking a trade war. Global markets are receiving a boost from the news of a possible meeting between Pres. Trump and N. Korean leader Kim Jong Un. Asian stocks settled mostly higher to end the week.
Technicals
The SPY held above both the 20EMA and the pivot at $273 throughout yesterday’s session. Support will first lie at the $273 pivot, followed by the 20EMA at $272.14, then the critical pivot of $270, then $267.61, the 100SMA at $267.05, last Friday’s low at $264.82, then pivots at $264.30, $263.31, $261.66, ascending support at $259.90, and the 200SMA at $256.61. Resistance will lie at the $275.45 pivot, followed by $278.92, $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**
WYNN, FNSR
Economic Calendar
8:30 Non-Farm Payrolls
12:45 Fed Pres. Evans Speaks
1:00 Baker-Hughes Rig Count
Notable Earnings Before Open
Big Lots, Inc. (BIG) – EPS Est. $2.42
Notable Earnings After Close
NONE
