Monday November 19, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are lower and European stocks are flat in early trading. Tensions with China continue with Vice Pres. Pence stating that China has choice between “cooperation and confrontation” in regard to trade with the US. AAPL is pulling the tech sector lower after cutting iPhone production numbers. Asian markets settled the session mostly higher to start the week.
Technicals
The SPY continued it’s consolidation below the 20EMA in Friday’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 of $274.46, followed by the $275.5 pivot, then the 200SMA at $275.80, the $281 pivot area, then the 100SMA at $281.70, $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**
MU, PCG, NVDA, AAPL
Economic Calendar
9:40 Fed Pres. Williams Speaks
11:45 Fed Pres. Williams Speaks
3:15 Fed Pres. Williams Speaks
Notable Earnings Before Open
JD.com (JD) – EPS Est. $0.08
Notable Earnings After Close
Intuit (INTU) – EPS Est. $0.11
L Brands (LB) – EPS Est. $0.15