Economic Calendar & Watch List
Morning Notes
US Futures are slightly lower again this morning while European markets also sit in the negative as markets stall ahead of the FOMC 2 day policy meeting which begins today. Tomorrow, the results of the meeting will be released and markets are expecting a .25% hike in the fed funds rate. Asian stocks closed mostly mixed.
Technicals
The SPY (NYSE:SPY) consolidated further throughout yesterday’s session managing to hold the recent pivot from Friday. Near term support will lie at the low of yesterday’s range at $237.24, followed by $236.59, $235.74, $235.41, $235.09, and $233.95. Resistance will lie at the high of yesterday’s range at $237.86, followed by $238.02, $238.12, $238.61, $239.57, and record highs at $240.32.
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**
NONE
Economic Calendar
8:30 Feb PPI final demand expected +0.1%
12:00 FOMC begins policy meeting
Notable Earnings Before Open
DSW Inc (NYSE:DSW) – EPS Est. $0.16
Notable Earnings After Close
NONE