Thursday June 21, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European are slightly lower this morning. Political tensions in Italy are again weighing on European markets. Trade war concerns are weighing on the automotive sector as Daimler AG lowered its full year forecast with the tension building between the US and China. Asian markets settled the day higher.
Technicals
The SPY continued to hold the $275.5 pivot and the 20EMA in yesterday’s session. Support will first lie at the confluence of the $275.5 pivot and the 20EMA, followed by the $274 swing high pivot area, then the 100SMA at 270.32, then pivots at $270 and $267, then the 200SMA at $265.72. It continues at the pivots at $265, $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at the gap of $277.5, then $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**
KR, MU, DRI
Economic Calendar
8:30 Weekly Unemployment Claims, expected 220k
8:30 Philadelphia Business Outlook Survey
Notable Earnings Before Open
Darden Restaurants (DRI) – EPS Est. $1.35
Notable Earnings After Close
Red Hat (RHT) – EPS Est. $0.49
