Wednesday November 14, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly lower in early trading. Global markets are lower on concern over slowing of global economic growth from the ongoing US/China trade dispute. In addition, increased geopolitical risk in Italy is weighing on global markets along with a decrease in crude prices. Asian markets settled the session mostly lower.
Technicals
The SPY tested and failed the 20EMA in yesterday’s session and consolidated near the recent $272 lows. 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 $275.90, the $281 pivot area, then the 100SMA at $281.65, $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**
PCG, M, CGC, GOOS
Economic Calendar
8:30 Consumer Price Index
9:00 Fed Pres. Quarles Speaks
5:00 Fed Chair Powell Speaks
5:00 Fed Pres. Kaplan Speaks
Notable Earnings Before Open
Macy’s (M) – EPS Est. $0.14
Canopy Growth (CGC) – EPS Est. $-0.12
Canada Goose Holdings (GOOS) – EPS Est. $0.19
Notable Earnings After Close
Cisco Systems(CSCO) – EPS Est. $0.72
NetApp (NTAP) – EPS Est. $0.99
