Friday September 21, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are down slightly and European stocks are higher in early trading. Markets posted new highs in yesterday’s session. Investors seem to be shrugging off the trade war tensions between the US and China with renewed optimism of global economic growth. European gains were limited with a drop in Sept. Markit PMI growth. Asian markets settled the day mostly higher.
Technicals
The SPY exhibited strength in yesterday’s session posting new all time highs on increased volume. Support will continue to lie first at the 20EMA of $289.27, 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 $279.15, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot and the 200SMA at $274.60. Resistance is at the new all time highs of $293.94.
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**
MU, CRSP, UNFI
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE