Tuesday June 12, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares flat in early trading. Pres. Trump and NK leader Kim Jong Un met in Singapore yesterday and signed a “denuclearization” agreement and started the process to a “lasting and stable peace”. The FOMC meeting starts today and investors will be watching to see what news comes from the announcement in tomorrow’s session. Asian markets settled mostly higher on the day with the reduced geopolitical risks from a, potentially, stabilizing Korean peninsula.
Technicals
The SPY traded in a constricted range on lighter than average volume nearing it’s $280 pivot area. Support will first lie at the $275.5 pivot, followed by the $274 swing high pivot area, then the 20EMA at $273.72, the 100SMA at 270.70, then pivots at $270, $267 and $265. It continues at the 200SMA at $264.62, 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**
RH
Economic Calendar
8:30 Consumer Price Index
8:55 Redbook
Notable Earnings Before Open
Lands’ End (LE) – EPS Est. —
Notable Earnings After Close
H&R Block (HRB) – EPS Est. $5.26
