Monday July 23, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly lower in early trading. Global markets are again experiencing more trade war pressure today after finance chiefs from the G20 expressed concern that the US lead trade war is threatening global economies. Asian markets settled the day mixed.
Technicals
The SPY continued to consolidate at its $280 pivot in Friday’s session. Support will first lie at the $280 and $279.5 pivots, followed by the 20EMA at $277.26, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot, then the $274 pivot and 100SMA at $271.08. It continues at the pivot at $270, the 200SMA at $268.47, then pivots at $267, $265, $259.05, $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at recent highs of $281.18, then $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**
HAS, TSLA
Economic Calendar
10:00 Existing Home Sales
Notable Earnings Before Open
Hasbro (HAS) – EPS Est. $0.29
Notable Earnings After Close
Alphabet (GOOGL) – EPS Est. $9.51
Whirlpool Corporation (WHR) – EPS Est. $3.63
