Tuesday August 28, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. Markets continue to make new highs helped by the new US/Mexico trade agreement. Comments from PM Trudeaus that Canada and the US may be coming to a trade deal is, also, helping fuel market gains. Asian markets settled the day mostly higher.
Technicals
The SPY continued to be strong yesterday’s gapping higher and holding those highs through the session. This morning the SPY is looking to gap higher again. Support will first lie at the new gap entry of $288.68, then gap fill at $287.67, followed by the old $285 pivot, then the 20EMA at 284.61, then gap entry at $283.37, gap fill at $282.54. It continues at the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot, then the 100SMA at $275.01, then $274 and the 200SMA at $272.07. Resistance is at the new all time highs of $289.90.
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**
TIF, DSW, BBY
Economic Calendar
8:30 International Trade In Goods
10:00 Consumer Confidence
Notable Earnings Before Open
Best Buy (BBY) – EPS Est. $0.83
Tiffany (TIF) – EPS Est. $1.00
Hain Celestial (HAIN) – EPS Est. $0.26
DSW (DSW) – EPS Est. $0.47
Notable Earnings After Close
H&R Block (HRB) – EPS Est. $-0.79
Tilray (TLRY) – EPS Est. $-0.09
Box (BOX) – EPS Est. $-0.25
