Morning Notes
US futures are slightly higher this morning following the boost on Friday after the higher than expected jobs report. Tech stocks are leading equities higher the market higher early. European stocks are up this morning with stronger than expected news. However, weakness in crude and mining are limiting the upside. Asian stocks closed mostly higher.
Technicals
The SPY (NYSE:SPY) reclaimed the 50 SMA in Friday’s session after a recent break of both the 20 EMA and 50 SMA late last week. Support will lie first at the near term support pivot at $240.65, followed by the low of Friday’s range at $240.56, then $240.34, $239.96, $239.51, $238.82 and the 100 SMA at $238.64. Resistance will lie at the the high of Friday’s range at $242.28 which also coincides with the 20 EMA. Resistance continues at $243.01, $243.38, $243.72, $244.38, $244.73, $244.87, and the record highs at $245.01.
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**
Economic Calendar
1500 ET Consumer Credit m/m – Est. 12.1B
Notable Earnings Before Open
Helen of Troy Ltd (NASDAQ:HELE): Est EPS $1.26
Notable Earnings After Close
Barracuda Networks (NYSE:CUDA): Est EPS $0.18