Monday September 17, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly lower in early trading to start the week. US/China trade are ramping again as it is reported in the WSJ that Pres. Trump is ready to impose tariffs as soon as today. Investors are cautious with a potential retaliatory act by China on American exports. Asian markets settled the day mostly lower.
Technicals
The SPY continued to trade higher off its 20EMA, taking pause near the all time highs. Support will continue to lie first at the 20EMA of $288.47, 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 $278.39, 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**
AMD, TEVA, JD, TWTR
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
FedEx (FDX) – EPS Est. $3.78
Oracle (ORCL) – EPS Est. $0.61
