Monday December 31, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher in early trading. Global markets are lifting with renewed optimism in the US/China trade war after Pres. Trump tweeted over the weekend that negotiations were moving along well between the two countries. China’s economy is still feeling pressure, however, with 2018 growth to be the weakest since the 1990’s Asian markets settled the session mixed. **Reminder that markets are closed tomorrow (1/1/2019) for the New Year holiday.
Technicals
The SPY traded between its $248 and $250 pivot areas in Friday’s session, closing the day near the $248 level. Support is first found at $248, $242, $240, followed by $235, $231.95, $228.56 pivot and ascending support at $219.5. Resistance first lies at $250, followed by $253, $254.50, the 20EMA at $255.43 and $260. It continues with $263, $265, $268, $270, the 200SMA at $274.46 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
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
