S&P finds support at 20 day SMA

Index & Sector performance 3/12/14

The Market:

Overnight trading took the S&P 500 futures index down to our target region of $1857-50 with the low of the session printing $1853.75ES right near the open which correlated with the S&P 500 cash index touching the 20 day SMA.  From there we bounced and then spend the rest of the day consolidating in a flag which has broken to the upside in after hours but with not much gusto.  Until the index clears the $1870-72.50ES area we will consider the potential for more downside.

Tomorrow is the heaviest day of the week for economic data with Retail Sales and the Unemployment Claims at 8:30am EST which should set a tone for the trading day and maybe rest of the week.

S&P500 emini (ES) 3/12/14 (click to expand)

Economic Calendar week of 3/10/14

Reporting EPS 3/5/14 Pre-Market:

Companies Reporting EPS 3/13/14 Before Market Open

Analyst Comments:

Upgrades 3/12/14

Downgrades 3/12/14

Initiations 3/12/14

Price Target Changes 3/12/14