Monday December 17, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly lower in early trading. Markets are ticking slightly lower as investors give pause to a potential partial government shutdown that may happen on Friday night regarding the ongoing dispute over the US Border Wall. Also weighing on markets is the drop in retail stocks lead in part by Best Buy after they encountered a downgrade. Asian markets settled the session higher.
Technicals
The SPY drifted lower in Friday’s session trading down to the $260 support area. Support is first found at $260.00, followed by pivots at $254.67 and $253. Resistance first lies at the $268 pivot and 20EMA, followed by $270, the $275.5 pivot, the 200SMA at $275.68. It continues with the 100SMA at $280.06, 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**
GS, JNJ
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
Oracle (ORCL) – EPS Est. $0.78
Red Hat (RHT) – EPS Est. $0.87
