Thursday September 20, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly higher in early trading. Strength in the energy sector is helping fuel market gains with an uptick in crude prices. European gains were limited with no settlement reached in the Brexit talks that started yesterday. Asian markets settled the day mixed.
Technicals
The SPY traded in a tight range in yesterday’s session testing the all time highs. Support will continue to lie first at the 20EMA of $288.82, 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 $278.86, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot and the 200SMA at $274.46. 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**
RHT, NVDA
Economic Calendar
8:30 Weekly Unemployment Claims, expected 210k.
8:30 Philadelphia Fed Business Outlook Survey
10:00 Existing Home Sales
Notable Earnings Before Open
Darden Restaurants (DRI) – EPS Est. $1.23
Notable Earnings After Close
Micron Technology (MU) – EPS Est. $3.34
