Thursday September 6, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are flat this morning. China/US trade is in the forefront again with the possibility of an additional $200b tariffs to be imposed on Chinese goods. Emerging markets had a slight rebound which is limiting global losses. Asian markets settled the day mostly lower.
Technicals
The SPY drifted in yesterday’s session entering and almost filling the most recent gap. Support will first lie at gap fill of $287.67, followed by the 20EMA at 287.07 and the old $285 pivot zone, then gap entry at $283.37, gap fill at $282.54. It continues at the $279.5 pivot, the 100SMA at $276.61, gap entry of $276.5, then gap fill at $275.84, then the $275.5 and $274 pivots, and the 200SMA at $273.04. 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**
LE, GIII, FB
Economic Calendar
8:30 Unemployment Claims, expected 213k
10:00 Fed Pres. Williams Speaks
11:00 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
NONE
Notable Earnings After Close
Broadcom (AVGO) – EPS Est. $4.19
Palo Alto Networks (PANW) – EPS Est. $0.06
Five Below (FIVE) – EPS Est. $0.38
