Tuesday September 4, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European stocks are lower in morning trading. Negotiations are still ongoing between the US and Canada in trade as a deal was not reached last week. Investors will be watching to see what happens on Thursday when the newest round of proposed tariffs on China could be implemented. Asian markets settled the day mixed.
Technicals
The SPY continues to consolidate around the all time highs. Support will first lie at gap entry of $288.68, then gap fill at $287.67, followed by the 20EMA at 286.56 and the old $285 pivot zone, then gap entry at $283.37, gap fill at $282.54. It continues at the $279.5 pivot, gap entry of $276.5, the 100SMA at $276.13, then gap fill at $275.84, then the $275.5 and $274 pivots, and the 200SMA at $272.72. Resistance is at the new all time highs of $291.74.
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**
JD, STX
Economic Calendar
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
Notable Earnings Before Open
Conn’s (CONN) – EPS Est. $0.41
Notable Earnings After Close
Workday (WDAY) – EPS Est. $-0.26
RH (RH) – EPS Est. $1.74
