Tuesday August 21, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly higher in early trading this morning. Strength in the tech sector is helping markets hold the recent highs. Also, investors are optimistic about the trade meetings that will start tomorrow between China and the US. Asian markets settled the session mostly higher.
Technicals
The SPY traded in a tight range in yesterday’s session closing near the recent pivot high of $286. Support will first lie at the gap entry of 283.37, followed by the 20EMA of $282.88, then gap fill at $282.54, 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 $273.76. It continues at 200SMA at $271.36, then the pivots of $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 $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**
SCHW, AMTD, TJX, MDT
Economic Calendar
8:55 Redbook
Notable Earnings Before Open
TJX (TJX) – EPS Est. $1.05
Kohl’s (KSS) – EPS Est. $1.65
Toll Brothers (TOL) – EPS Est. $1.03
Notable Earnings After Close
La-Z-Boy Incorporated (LZB) – EPS Est. $0.25