Monday June 25, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European are lower in early morning trading. This after the trade war seems to be intensifying between the US and its trade partners. Pres. Trump tweeted over the weekend that there would be more action levied against those countries who place “artificial” trade barriers up to US companies. Asian markets settled lower to start the week.
Technicals
The SPY traded in a tight range in Friday’s session, trading between its 20EMA and the $275.5 pivot and is gapping lower this morning. Support will first lie at the $274 swing high pivot area, then the 100SMA at 270.15, then pivots at $270 and $267, then the 200SMA at $266. 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 confluence of the $275.5 pivot and the 20EMA, followed by 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**
AAPL, INTC
Economic Calendar
10:00 New Home Sales
Notable Earnings Before Open
Carnival (CCL) – EPS Est. $0.60
Notable Earnings After Close
NONE
