Wednesday June 13, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European are slightly higher this morning. Strength in the technology sector is leading global markets higher today. Investors will be waiting to hear from the Fed this afternoon for plans of interest rate hikes further into this year and insight into the strength of the economy. Asian markets settled mostly mixed on the day.
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**
HRB
Economic Calendar
8:30 Producer Price Index
10:30 Weekly Petroleum Status Report
2:00 FOMC Meeting Announcement
2:30 Fed Chair Press Conference
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE