Monday September 10, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading to start the week. Tech stocks are leading the markets higher with AAPL preparing to unveil its newest iPhone on Wednesday. The lack of newly imposed tariffs over the weekend is also helping move the overall markets higher, but is still an overarching concern for investors. Asian markets settled mixed to start the week.
Technicals
The SPY continued to test and consolidate above its 20EMA in Friday’s session. Support will first lie at the 20EMA at 287.22, followed by 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 $276.99, gap entry of $276.5, then gap fill at $275.84, then the $275.5 and $274 pivots, and the 200SMA at $273.34. 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**
BABA, TSLA
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
