Wednesday November 28, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. Investors will be waiting to hear Fed. Chair Powell’s speech at noon today for any insight into the upcoming rate hikes that are expected. Markets posting gains after economic advisor Kudlow stated that Pres. Trump is open to a deal with China. Asian markets settled the session mostly higher.
Technicals
The SPY traded higher in yesterday’s session closing the day near the $268 pivot. This morning the SPY is looking to gap higher near the important $270 level. Support is first found at $268, $265, followed by $263.16, $261.20, then $259.00 and $254.67. Resistance first lies at the important $270 pivot, followed by the 20EMA of $270.77, then the $275.5 pivot, then the 200SMA at $275.84, the $281 pivot area, then the 100SMA at $281.41, $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**
TIF, CRM, SJM
Economic Calendar
8:30 GDP, Expected 3.5%
8:30 International Trade In Goods
12:00 Fed Chair Powell Speaks
Notable Earnings Before Open
Tiffany & Co. (TIF) – EPS Est. $0.76
Dicks Sporting Goods (DKS) – EPS Est. $0.26
Burlington Stores (BURL) – EPS Est. $1.06
Notable Earnings After Close
Box (BOX) – EPS Est. $-0.07
Guess (GES) – EPS Est. $0.16
