Friday September 28, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower in early trading. European stocks are leading markets lower with increased geopolitical risks in Italy. TSLA is in the headlines with a suit coming from the SEC in regard to the going private tweets that Musk released in August. Asian markets settled the day mostly higher. Japan’s Nikkei surged in yesterday’s session and reached the highest levels since 1991.
Technicals
The SPY continued to hold the 20EMA in yesterday’s session and closed the day flat. This morning the SPY is looking to gap lower near its 20EMA. Support will continue to lie first at the 20EMA of $289.87, 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 $280.22, the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot and the 200SMA at $275.14. Resistance is at yesterday’s high of 292.24, 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**
TSLA, AAOI, NVDA, AAPL
Economic Calendar
8:30 Personal Income and Outlays
9:45 Chicago PM
4:45 Fed Pres. Williams Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
