Wednesday January 2, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are lower in early trading. Markets are sharply lower this morning following data coming from China on their weaker than expected manufacturing data. Investors continue to remain concerned with the global economic slowdown, partial US government shutdown and the ongoing trade tensions between the US and China. Asian markets settled the session lower.
Technicals
The SPY continued to trade between its $248 and $250 pivot areas in Monday’s session, closing the day near the $250 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 $254.91 and $260. It continues with $263, $265, $268, $270, the 200SMA at $274.34 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
9:45 PMI Manufacturing Index
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE