Thursday November 29, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are slightly lower and European stocks are higher in early trading. Markets found strength in yesterday’s session after Fed. Chair Powell that may signal an easing of rates in the future. Energy stocks are weighing on markets this morning as an increase in supply and decrease in global demand. European stocks are finding strength Germany’s unemployment levels dropping to an all time low. Asian markets settled the session mostly higher.
Technicals
The SPY traded sharply higher in yesterday’s session following comments from Fed Chair Powell pushing through the $270 level and the 20EMA. Support is first found at the 20EMA $271.14, then $270, followed by $268, $265, then $263.16, $261.20, then $259.00 and $254.67. Resistance first lies at the $275.5 pivot, then the 200SMA at $275.89, the $281 pivot area, then the 100SMA at $281.31, $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**
DLTR, ANF
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 220k
8:30 Personal Income and Outlays
2:00 FOMC Meeting Minutes
2:00 Fed Pres. Mester Speaks
2:00 Fed Pres. Evans Speaks
3:00 Fed Pres Kaplan Speaks
Notable Earnings Before Open
Dollar Tree (DLTR) – EPS Est. $1.15
Notable Earnings After Close
Palo Alto Networks (PANW) – EPS Est. $1.05
GameStop (GME) – EPS Est. $0.56
