Wednesday June 27, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly lower in trading this morning. Global weakness continues as trade disputes may lead to a global economic slowdown. European shares were under pressure with weakness in the banking sector. Asian markets settled lower on the day.
Technicals
The SPY traded in a tight range above its $270 support level in yesterday’s session. Support will first lie at the 100SMA and the $270 pivot, followed by the $267 pivot, the 200SMA at $266.24. 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 $274.51, 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**
CAG, CGC, GBT (NFLX, WWE Loosely)
Economic Calendar
8:30 International Trade In Goods
10:30 EIA Petroleum Status Report
Notable Earnings Before Open
General Mills (GIS) – EPS Est. $0.72
Paychex (PAYX) – EPS Est. $0.61
Notable Earnings After Close
Bed Bath & Beyond (BBBY) – EPS Est. $0.31