Thursday September 13, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European stocks are higher in early trading. Tensions are starting to ease between the US and China after the announcement yesterday that the two nations were going to be attempting another round of trade negotiations. Investors will be watching what comes from ECB, Bank of England and the Turkish Central Bank in terms of monetary policy today. Asian markets settled the day mostly higher.
Technicals
The SPY continued to consolidate above the 20EMA and had a strong reaction to the US/China trade talk news. Support will continue to lie at the 20EMA at $287.47, followed by the pivot low of $286.17, 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 $277.59, gap entry of $276.5, then gap fill at $275.84, then the $275.5 and $274 pivots, and the 200SMA at $273.77. 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**
AAPL
Economic Calendar
8:30 Consumer Price Index
8:30 Weekly Unemployment Claims, expected 210k
10:00 Fed Pres. Quarles Speaks
12:30 Fed Pres. Bostic Speaks
Notable Earnings Before Open
Kroger (KR) – EPS Est. $0.38
Notable Earnings After Close
Adobe Systems (ADBE) – EPS Est. $1.69