Tuesday December 18, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. Markets are taking a pause this morning after a selling off in Monday’s session to new lows for 2018. Slowing global growth and political uncertainty sill concern investors ahead of Wednesday’s FOMC meeting conclusion. Asian markets settled the session mostly lower.
Technicals
The SPY it’s move lower in yesterday’s session breaking the $260 pivot to find support at the $254.5 pivot area. Support is first found at $254.67, followed by $253 and $250. Resistance first lies at the $260, followed by $263, $265, the 20EMA at $267.08, $268 and $270. It continues with the 200SMA and $275.5 confluence, then the 100SMA at $279.77, 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**
JNJ
Economic Calendar
NONE
Notable Earnings Before Open
Darden Restaurants (DRI) – EPS Est. $0.92
Notable Earnings After Close
Micron Technology (MU) – EPS Est. $2.90
FedEx (FDX) – EPS Est. $4.05
