Monday June 11, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European shares are slightly higher in early trading. European shares are up with reduced political risk on news that Italy has no intention of leaving the Euro. Investors will be watching for news coming from the US/NK summit that is taking place in Singapore today. Global gains were limited with a drop in crude oil prices as Russia increased its crude production over expected levels. Asian markets settled mixed on the day.
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 $273.69, the 100SMA at 270.70, then pivots at $270, $267 and $265. It continues at the 200SMA at $264.61, 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**
PCG
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
RH (RH) – EPS Est. $1.01