Friday January 18, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher in early trading. Markets surged yesterday on tariff talk and continue to remain strong today. TSLA is lower this morning following news that they are laying off 7% of their workforce. Reminder that markets are closed on Monday for observance of Martin Luther King Jr. Day in the US. Asian markets settled the session higher.
Technicals
The SPY tested and held the $260 pivot again in yesterday’s session following China trade talk. Support is first found at $263, then the $260 pivot, followed by the 20EMA at 256.25, then $254.67, $253, $250, $248, $242, $240, followed by $235, $231.95, and $228.56. Resistance first lies at $265, $268, $270, then the 100SMA at $273.16 and the 200SMA at $273.83.
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**
TSLA, AXP, NFLX, TIF
Economic Calendar
9:15 Fed Pres. Williams Speaks
9:15 Industrial Production
10:00 Consumer Sentiment
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE