Wednesday December 12, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. Markets are again higher on optimism that the US and China will be able to continue talking regarding the trade war. European gains are limited with the continued Brexit tension and a potential no confidence vote coming for PM May. Asian markets settled the session higher.
Technicals
The SPY drifted in yesterday’s session, testing and holding the $263 pivot area during market hours and after. In premarket today we are finding ourselves testing the $268 pivot area again. Support is first found at $265, then $263.16, $261.20, then $259.00 and $254.67. Resistance first lies at the $268 pivot, followed by $270 and the 20EMA, the $275.5 pivot, then the 200SMA at $275.80. It continues with the 100SMA at $280.56, then the $281 pivot area, $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**
PLAY, TWTR, NBIX, AEO
Economic Calendar
8:30 Consumer Price Index
Notable Earnings Before Open
NONE
Notable Earnings After Close
Tailored Brands (TLRD) – EPS Est. $0.94
