Thursday December 20, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European stocks are lower in early trading. Markets continue to be under pressure after the FOMC hinted that additional rate hikes would continue into 2019 triggering a sell off in the markets yesterday afternoon. This has caused additional selloffs in the European market along with the global slowdown. Asian markets settled the session lower.
Technicals
The SPY traded sharply lower in the afternoon session following the FOMC announcement. Support is first found at the critical $250 pivot, followed by $248 and $245. Resistance first lies at the $253, followed by $254.50, $260, then $263, the 20EMA at $264.54, $265, $268 and $270. It continues with the 200SMA and $275.5 confluence, then the 100SMA at $279.19, 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**
FB, AAPL, CCL
Economic Calendar
8:30 Weekly Unemployment Claims, expected 220k
8:30 Philadelphia Fed Bus. Outlook Survey
Notable Earnings Before Open
Walgreens Boots Alliance (WBA) – EPS Est. $0.43
Carnival (CCL) – EPS Est. $0.69
Conagra (CAG) – EPS Est. $0.55
Notable Earnings After Close
Nike (NKE) – EPS Est. $0.45
