Friday December 21, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower in early trading. Pressure remains on markets as fear grips investors of continued political risk in the US, trade wars, and global economic slowdowns covers headlines. Investors remain concerned with a potential partial US Gov’t shutdown today from a fight with border wall funding. Asian markets settled the session lower.
Technicals
The SPY continued to decline in yesterday’s session finding support at the $245 pivot. Support is first found at the critical $245 pivot, followed by $242 and $240.50. Resistance first lies at the $248, followed by $250, $253, $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**
KMX, PRGO
Economic Calendar
8:30 Durable Goods Orders
8:30 GDP
Notable Earnings Before Open
Carmax (KMX) – EPS Est. $1.01
Notable Earnings After Close
NONE