Friday December 14, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower in early trading. Markets are lower once again with fear of slowdown in global growth. Weak Chinese and Eurozone industrial and manufacturing data are causing investors to take pause. Asian markets settled the session lower.
Technicals
The SPY continued its consolidation around the recent lows and continues to be under pressure. Support is first found at $265, then $263.16, $261.20, then $259.00,$254.67 and $253. Resistance first lies at the $268 pivot, followed by the 20 EMA at $269.14, $270, the $275.5 pivot, the 200SMA at $275.72. It continues with the 100SMA at $280.27, 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**
COST, SBUX, ADBE, BABA
Economic Calendar
8:30 Retail Sales
9:15 Industrial Production
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE