Tuesday August 14, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are up slightly in trading this morning. Markets are starting to stabilize some this morning as Turkey’s economic situation seems to have temporarily stabilized with the lira gaining 5% against the US dollar. European stocks are higher as Germany posted a higher than expected economic growth survey. Asian markets settled the session mixed.
Technicals
The SPY continued to be weak in yesterday’s session, finding support at it’s 20EMA. Support will first lie at the 20EMA of $282, 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 $272.62. It continues at 200SMA at $270.68, 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**
HUYA, YY, TPR, AAP
Economic Calendar
8:30 Import and Export Prices
8:55 Redbook
Notable Earnings Before Open
Home Depot (HD) – EPS Est. $2.84
Advance Auto Parts (AAP) – EPS Est. $1.84
Notable Earnings After Close
NONE
