Friday November 23, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are lower and European stocks are flat in early trading. Weakness in the energy sector is weighing on markets with signs of an oversupply. European markets are flat with an easing of geopolitical risk from Italy, yet overshadowed by signs of Eurozone slowdown from the latest markit PMI report. Asian markets settled the session mostly lower.
Technicals
The SPY traded on lighter than average volume ahead of the Thanksgiving holiday on Wednesday and closed the session at the $265 pivot. Support is first found at $265, followed by the pivot at $263.16, $261.20, then $259.00 and $254.67. Resistance first lies at the $270 pivot, followed by the 20EMA of $272.25, then the $275.5 pivot, then the 200SMA at $275.78, the $281 pivot area, then the 100SMA at $281.68, $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**
AAPL, NVDA
Economic Calendar
9:45 PMI Composite Flash
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
