Hot Stocks To Watch 12/19/2017

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Tuesday December 19, 2017

Economic Calendar & Watch List

 

Morning Notes

US Futures are pointing slightly higher as the House is set to vote on the new tax reform package today. A rise in WTI Crude prices is also helping boost  the energy sector and global markets. European stocks are down slightly after German business confidence dropped more than expected. Asian stocks settled mixed on the day.

 

Technicals

The SPY gapped to new record highs to open yesterday’s session and traded in a constricted range. Support will first lie at gap entry at $267.98, followed by gap fill at $267.04, then  the 20EMA at $263.82, the recent pivot at $262.71, then $260.75 which correlates with the ascending support. Support continues at $260, the 50SMA at $259.54, a short term pivot at $259.20, a pivot at $255.63 and at $254.30, then the 100SMA at $253.69. Resistance will lie at all time highs at $268.60.

 

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**

NAV

Economic Calendar

8:30  Housing Starts

8:55  Redbook

1:00  Fed Pres. Kashkari Speaks

 

Notable Earnings Before Open
Carnival (CCL) – EPS Est. $0.50

Darden Restaurants (DRI) – EPS Est. $0.70

 

Notable Earnings After Close

FedEx (FDX) – EPS Est. $2.87

Micron Technology (MU) – EPS Est. $2.12

Red Hat (RHT) – EPS Est. $0.50

 

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