Wednesday September 19, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are flat in early trading. Investors were expecting a harder hit with the newly imposed tariffs in the US/China trade war and markets are not reacting much to the new levied amounts. EU leaders are meeting for an informal summit that may help in the stalled Brexit talks. Asian markets settled the day mostly higher.
Technicals
The SPY is continuing to consolidate in a higher range just below the all time highs. Support will continue to lie first at the 20EMA of $288.57, 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 $278.62, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot and the 200SMA at $274.32. 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**
GTHX, CGC
Economic Calendar
8:30 Housing Starts
10:30 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
NONE
Notable Earnings After Close
RedHat (RHT) – EPS Est. $0.82
