Tuesday November 13, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly higher in early trading. Markets are finding some strength on possible progress in the US/China trade dispute with negotiations resuming between the two countries. Energy stocks are weighting on the overall market as prices dropped following Pres. Trump comments on supply levels. Asian markets settled the session mixed.
Technicals
The SPY sold off through the 200SMA and $275.5 support in yesterday’s session. Support is first found at the important $270 pivot, followed by $265, $261.20, then $259.00 and $254.67. Resistance first lies at the 20EMA and $275.5 pivot, followed by the 200SMA at $275.95, the $281 pivot area, then the 100SMA at $281.69, $286.7, $293.22, then 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**
HD, AAPL, GS
Economic Calendar
8:55 Redbook
10:00 Fed Pres. Kashkari Speaks
5:00 Fed Pres. Daly Speaks
Notable Earnings Before Open
Home Depot (HD) – EPS Est. $2.27
Tyson Foods (TSN) – EPS Est. $1.33
Advance Auto Parts (AAP) – EPS Est. $1.76
Notable Earnings After Close
NONE
