Tuesday June 26, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European shares are up slightly this morning. Markets tumbled in yesterday’s session. The US indicated potential restrictions on Chinese investment in which helped fuel the selloff globally. European shares found some strength today with a rise in Greece’s long term credit rating to a B+ from a B. Asian markets settled the day mixed.
Technicals
The SPY broke down from its consolidation period in yesterday’s session, testing and finding support at its 100SMA and the $270 pivot on increased volume. Support will first lie at the 100SMA and the $270 pivot, followed by the $267 pivot, the 200SMA at $266.12. 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 $274 swing high pivot area, then the $275.5 pivot and the 20EMA at $274.83, 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, NFLX, FB (All with market action)
Economic Calendar
8:55 Redbook
10:00 Consumer Confidence
1:00 Fed Pres. Bostic Speaks
1:45 Fed Pres. Kaplan Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE