Monday May 21, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher in early trading. China and the US appear to be working out the trade differences and the trade war risks are starting to recede. European stocks are up on that news, however, Italian geopolitical tensions are weighing on those markets. Asian markets settled mostly higher to start the week.
Technicals
The SPY continued its consolidation between the $273 pivot and the 100SMA. Support will first lie at the confluence of the 100SMA at 270.45 and the $270 pivot, followed by the 20EMA at $269.02 and the $267 pivot, then $265, the 200SMA at $262.47, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at $273, $275.5, $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**
MU
Economic Calendar
12:15 Fed Pres. Bostic Speaks
2:15 Fed Pres. Harker Speaks
5:30 Fed Pres. Kashkari Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE