Friday September 14, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. Markets are continuing higher with the easing ot trade war tensions between the US and China. However, Pres. Trump tweeted yesterday that the US had “no pressure” to complete a trade deal with China. Asian markets settled the day mostly higher.
Technicals
The SPY traded in a constricted range in yesterday’s session and started to resolve to the upside after consolidating at it’s 20EMA. Support will continue to lie first at the 20EMA of $287.93, 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 $277.84, gap entry of $276.5, then gap fill at $275.84, then the $275.5 and $274 pivots, and the 200SMA at $273.92. 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**
Economic Calendar
8:30 Retail Sales
9:00 Fed Pres. Evans Speaks
9:15 Industrial Production
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE