Friday June 8, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are down slightly this morning. Investors are awaiting trade news to come from the G7 summit meeting today. Tech stocks are slipping as AAPL informed its suppliers to expect 20% fewer components ordered for the second half of this year. European stocks are continuing to receive pressure as France, in addition to Germany, posted some unexpected declines in industrial production numbers. Asian markets settled lower to end the week.
Technicals
The SPY continued to exhibit strength early in yesterday’s session, but started to dip slightly into the afternoon. Support will first lie at the $275.5 pivot, followed by the $274 swing high pivot area, then the 20EMA at $272.69, the 100SMA at 270.70, then pivots at $270, $267 and $265. It continues at the 200SMA at $264.28, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at $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**
AVGO, ZUMZ, DOCU
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
