Thursday January 3, 2019
Economic Calendar & Watch List
US Futures and European shares are lower in early trading. A drop in the tech sector, being lead by AAPL is weighing on overall markets. AAPL lowered their forward guidance in after hours yesterday citing slow iPhone sales in China. The US government shutdown continues as lawmakers fail to make a deal on border wall funding. Asian markets settled the session lower.
The SPY gapped lower to start yesterday’s session then continued higher into the $250 resistance area. 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 $254.56 and $260. It continues with $263, $265, $268, $270, the 200SMA at $274.22 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**
8:30 Weekly Unemployment Claims, expected 217k
10:00 ISM Manufacturing Index
Notable Earnings Before Open
Notable Earnings After Close