Monday August 13, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower early morning trading. European shares are continuing to drop on weakness coming from Turkey’s economic situation. The Turkish lira has lost 40% of it’s value in August. This weakness in combination with the ongoing trade war is leading global markets lower. Asian markets settled the session mostly lower.
Technicals
The SPY exhibited weakness to close the week, breaking to the downside out of it’s recent consolidation. Support will first lie at the 20EMA of $281.99, followed by the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot, then the $274 pivot and 100SMA at $272.51. It continues at 200SMA at $270.54, then pivots at $270, $267, $265, $259.05, $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will first lie at pivot highs of $286.01 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**
Economic Calendar
NONE
Notable Earnings Before Open
Sysco (SYY) – EPS Est. $0.94
Notable Earnings After Close
YY (YY) – EPS Est. $1.81