Monday September 24, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly lower in early trading. The latest round of tariffs went into effect today between China and the US. New tariffs have prompted China to cancel the upcoming round of trade talks between the two countries putting investors on edge of a prolonged trade war. Asian markets settled the day mostly lower.
Technicals
The SPY took a pause in Friday’s session after pushing to new all time highs earlier in the week. Support will continue to lie first at the 20EMA of $289.53, 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 $279.42, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot and the 200SMA at $274.75. 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**
NTNX, ALXN, SYMC
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
