Tuesday September 25, 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 gapped lower in yesterday’s session after pushing to new all time highs. Support will continue to lie first at the 20EMA of $289.67, 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 with the 100SMA at $279.70, the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot and the 200SMA at $274.89. Resistance is at gap entry of $291.50, then gap fill at $291.81, followed by 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**
FB, JBL
Economic Calendar
8:55 Redbook
10:00 Consumer Confidence
Notable Earnings Before Open
NONE
Notable Earnings After Close
Nike (NKE) – EPS Est. $0.62
Cintas (CTAS) – EPS Est. $1.78
