Wednesday December 26, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are slightly higher in early trading with European markets closed for the extended holiday. Markets are pausing from their recent decline following comments from Pres. Trump expressing his confidence in the strength of the US economy. Investors still remain cautious regarding US/China trade relations and the ongoing government shutdown. Asian markets settled the session mixed.
Technicals
The SPY entered bear market territory in Monday’s session hitting the 20% drop mark from the 52 week highs. Support is first found at $231.95, followed by $228.56 then $219.5. Resistance first lies at $236, $240.5, $242, $245, $248, followed by $250, $253, $254.50, $260, then $263. It continues with the 20EMA at $258.25, $265, $268, $270, the 200SMA at $274.90 and $275.5 pivot.
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**
Economic Calendar
8:55 Redbook
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
