Wednesday September 12, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European stocks are slightly higher in early trading. The technology sector is leading the markets higher with AAPL presenting its new iPhone today at 1 PM Est. Markets are also getting a boost from positive movement in the Canadian trade negotiations along with strength in the energy sector. However, the trade war between the US and China is still weighing on global markets. Asian markets settled the day lower.
Technicals
The SPY had a strong rebound off its 20EMA in yesterday’s session. Support will continue to lie at the 20EMA at 287.47, 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 $277.37, gap entry of $276.5, then gap fill at $275.84, then the $275.5 and $274 pivots, and the 200SMA at $273.62. 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**
MU
Economic Calendar
8:30 Producer Price Index
10:00 Weekly EIA Petroleum Status Report
12:45 Fed Pres. Brainard Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
Tailored Brands (TLRD) – EPS Est. $1.07